ECB ‘no’ to bank probe over Greek grilling fear

The European Central Bank has pulled out of any involvement in the bank inquiry after public claims its comments could be used as evidence instead of an “informal exchange of views” — and private fears any participation could see it dragged before Greek politicians at a later date.

Inquiry members confirmed the situation last night after the powerful financial body said it would not submit to any questioning over its role, if any, in the economic crash, bank guarantee, and 2010 troika bailout.

In a statement confirming the move, inquiry chair and Labour TD Ciarán Lynch said the ECB was “declining to participate in the inquiry’s work” because it was not legally obliged to face questioning from national parliaments.