Nyberg sceptical over Oireachtas bank inquiry

The author of a report into Ireland’s banking meltdown has said he would be “surprised” if next year’s proposed banking inquiry uncovered new information and warned the crisis could be repeated because lessons have not been learned.

As the Government prepares to set up the inquiry to examine events up to and including the night of the disastrous bank guarantee, former Finnish finance ministry director general Peter Nyberg said: “I would be pretty surprised if the parliamentary inquiry would uncover something new.”

Mr Nyberg’s government- commissioned report found that “a mania” had gripped Ireland with banks, regulators, politicians, and the media failing to tackle the crisis as it developed.