FG in new call for banking inquiry

Fine Gael is today calling for cross-party support for an inquiry into the banking crisis.

The party wants a probe established similiar to that of the DIRT inquiry.

Party leader Enda Kenny nominated Deputy Michael Noonan as the Fine Gael representative and Chair of the new inquiry and has also announced that Fine Gael will be tabling a motion on the resumption of the Dáil on the establishment of an inquiry.

"We have to ensure that the kind of crisis that crippled our banking system and economy can never happen again and that those in positions of authority in the lead into the crisis are held to account," said Kenny.

"That is why I support the call from Patrick Honohan, Governor of the Central Bank, for an inquiry into how the banking crisis came about.

"If we are to restore confidence in our banking system such an inquiry is an absolute necessity. In that regard I would invite support from all parties for an inquiry.

"I believe that this inquiry can be established speedily and report quickly into the political and regularity failings that occurred in the banking system.

"This Dáil inquiry would not infringe on the two investigations currently underway through the Fraud Squad and the Office of the Director of Corporate Enforcement. This inquiry would look at political and regulatory failures that allowed the banking system to help sink the country into a financial crisis.

"I note in the recent past that all other parties, bar Fianna F áil, have indicated that they share our view on an inquiry being established, even within Fianna Fáil there are elements calling for such an inquiry.

"On the other hand senior figures in Fianna Fail are clearly afraid of what such an inquiry will unearth regarding their recent period in Government.

“The vote on our Private Members Motion in the Dáil on January 20 provides them with an opportunity to back up their calls for an inquiry by backing our proposal.”

Last week, the Labour party said it too was calling for a comprehensive parliamentary inquiry into the scandal.