What price are we prepared to pay for real transparency?
In the last few weeks, we have been treated once again to the sound of hand-wringing politicians bleating on about the need for greater transparency in corporate and political life. As they discussed the terms of reference for a new Commission of Investigation into certain transactions at IBRC, two phrases came to mind - 'inevitable' and 'Groundhog Day'.
There was an inevitability that some form of inquiry would arise in relation to the wind down of a toxic bank that cost us €30bn. This is due to the complete lack of transparency in the manner in which it has been unwound.
Don't be surprised if Nama ends up in a similar position before it finally sheds its mortal coil. Not because of any specific wrongdoing but because that is how we handle things in this country.