FG: Cowen will have questions to answer on banking collapse

Fine Gael has said that the two reports into the financial crisis expected to be published later today will have implications for the political future of Taoiseach Brian Cowen.

The separate reports - by current Central Bank governor Patrick Honohan and by international experts Claus Regling and Max Watson - are expected to criticise the Government's budgetary policy when Mr Cowen was Finance Minister prior to the crash.

The documents will form the basis of the Government's banking inquiry, due to be set up this month.

But Fine Gael's Finance Spokesman Richard Bruton said the reports will leave the Taoiseach Brian Cowen with serious questions to answer.

"The finger is rightly pointed at him," Deputy Bruton said.

"He made some catastrophic blunders. He will have to account for them. And I think people will want to see that happen in public, fairly and openly," he added.

"There can be no hiding behind corners on this.

"If we are to have a system that holds failures to account, it has to start with the Taoiseach."