Investigation into IBRC in doubt

It now looks unlikely that the Commission of Investigation into IBRC will be given the teeth it needs to complete its work before the election.

Mr Justice Brian Cregan has said he does not have the ability to investigate a series of transactions at the former Anglo Irish Bank.

The Taoiseach has provided opposition party leaders with an option that would overcome the difficulties of confidentiality and privilege.

Public Expenditure Minister Brendan Howlin has said Fianna Fáil’s response to their proposed solution has been ‘perverse’.

“Judge Cregan set out in very clear form the difficulties as he perceived them, with the current legislation and the specific terms of reference that he had.

“The Taoiseach as you know has communicated with all the leaders of the opposition, I perversely heard the response from Fianna Fáil which said we haven’t had a chance to consider the very detailed proposals but we maintain our criticism.

“You would imagine they might read them first.”