Banking inquiry must be public
FINANCE Minister Brian Lenihan will bring to the Cabinet tomorrow his proposals for the shape of the inquiry into the collapse of the banking system. His colleagues have difficult and complex decisions to make. But one of them can be described very simply.
The Government agreed to hold the inquiry only under severe pressure from the Dail opposition parties, the Green ministers and the media. It put forward threadbare excuses, notably that the exercise could damage Ireland's international reputation.
In fact, the opposite is the truth. If properly devised and executed, the investigation can show our European Union partners and other powerful interests abroad that we are determined to get to the root causes of our financial and economic ills and guard against a repetition of the present crisis.