Tuesday 24 January 2017

Caution needed on 'open mic' Dáil claims

Mick Wallace served us well with his use of Dáil privilege, says Liz O'Donnell, but we must beware of pre-election agendas

Published 18/07/2015 | 02:30

Mick Wallace
Mick Wallace

Claims made under Dáil privilege by Independent Deputy Mick Wallace this week were, if true, sensational and grave. It would be folly of the highest order to make light of them.

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If corruption, as alleged, exists in government or any State agency democracy, it demands immediate response. This is particularly so when the State agency concerned, Nama, established in 2009 to take toxic loans off the balance sheets of Irish banks is one of the key bodies charged with the recovery of the Irish economy.

The calamitous banking and property collapse in 2008 resulted amongst other things in the loss of Ireland's economic sovereignty. A blanket bank guarantee now viewed as "flawed" by the European Commission turned a banking crisis into a sovereign debt crisis. The 2010 bailout required years of austerity and financial adjustments, tax hikes, unpopular reforms and cutbacks in public services.

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