Politics

Wednesday 23 July 2014

Lessons of crash must be learned – Gilmore

John Downing Political Correspondent

Published 15/05/2014|02:30

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Labour TD Ciaran Lynch will head up the banking inquiry
Labour TD Ciaran Lynch will head up the banking inquiry

IRELAND must learn lessons from the collapse of the banking system and avoid a recurrence, Tanaiste Eamon Gilmore has said.

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"There has been too much pain, too much hardship, to just move on without devoting the time and resources to learning the lessons," he said.

The Labour leader was speaking during a bad-tempered debate, after which TDs voted to set up the banking inquiry.

Taoiseach Enda Kenny confirmed that the inquiry would be conducted by a committee of nine, including seven TDs and two Senators.

The chairman will be Labour Cork TD Ciaran Lynch. He will be joined by Fine Gael TDs Kieran O'Donnell, John Paul Phelan and Eoghan Murphy, along with Michael McGrath of Fianna Fail, Sinn Fein's Pearse Doherty and Independent TD Stephen Donnelly (pictured).

The two senators are expected to be selected in the coming days and it is understood that at least one of these will be a woman. One of the Labour senators – Ivana Bacik, Aideen Hayden or Susan O'Keeffe – is expected to be chosen.

Mr Kenny said the public was entitled to a full account of the banking crisis because people had suffered great hardship.

But Fianna Fail leader Micheal Martin, while welcoming the inquiry, warned that the Government must abandon the partisan approach shown in comments by the Taoiseach.

Sinn Fein's finance spokes- man Pearse Doherty warned that the inquiry could be no substitute for criminal investigations into those who might be guilty of wrongdoing.

Irish Independent

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