Enda Kenny proposes greater powers for IBRC inquiry

Taoiseach Enda Kenny has recommended giving the State investigation into IBRC once-off powers to overrule the confidentiality of its high-profile clients and to see what deals they have been given by the bank.

The option was outlined to opposition parties in a detailed 12-page draft heads of Bill legal letter explaining how Government plans to overcome severe inquiry shortcomings, despite warnings the move poses serious legal risks to the State.

The letter is understood to give nine options on how to progress the investigation, after the judge leading the inquiry, Brian Cregan, warned last November he will not be able to complete his work as he does not have enough powers to examine what took place in a series of high-profile and costly deals.