Snap election could spell the end of banking inquiry

A snap general election before 2016 could mean the Dáil’s banking inquiry will have to be scrapped before its work is completed — effectively letting those responsible for the downturn avoid the consequences of their actions.

Michael McGrath, Fianna Fáil’s finance spokesman, issued the stark warning on the final day of the party’s two-day think-in yesterday, insisting a cross-party body tasked with interviewing bankers and ex-government ministers over the crisis must be allowed to begin its work immediately if it is to reach any detailed conclusions.

Speaking to reporters before a private meeting of the group later today, Mr McGrath said under the current timeline, the banking inquiry group is unlikely to start interviewing witnesses until the beginning of next year at the earliest, with a report likely by November 2015.