Bank guarantee - Inquiry plan is welcome

The announcement by the Department of Public Expenditure and Reform that legislation for an inquiry into the banking guarantee will be brought forward over the next two weeks is very welcome.

That fateful night in Sept 2008 has long been regarded as a pivotal moment in our contemporary history.

Theories about what went on abound. Some suggest that the then taoiseach Brian Cowen and his finance minister, the late Brian Lenihan, had been at least misled by private bankers and pressurised into taking action by some of Europe’s most powerful central bankers and other financial figures.