Why inquiry must look beyond night of bank guarantee
The inner workings of each individual bank is the black hole at the heart of the narrative.
Deputy Ciaran Lynch is to chair the long-overdue Oireachtas banking inquiry and the other eight members are to be announced next week. The committee will first work on its terms of reference, and actual hearings will not commence until the autumn, six full years since the balloon went up.
Political exchanges have concentrated on responsibility for the bank guarantee announced on September 30, 2008 and the inquiry should, of course, explore that decision fully. But it is important that the inquiry deals also with events prior to the guarantee, and with subsequent events.
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