Friday 9 December 2016

Banking Inquiry revealed truths

Published 13/09/2015 | 02:30

Kevin Cardiff, the former Secretary General of the Department of Finance, who told the Banking Inquiry that Ireland was pushed quite hard into the bailout programme in 2010
Kevin Cardiff, the former Secretary General of the Department of Finance, who told the Banking Inquiry that Ireland was pushed quite hard into the bailout programme in 2010

The often-criticised Banking Inquiry, which has concluded its hearings in public, has done the State some service in that it has illuminated to a greater extent one of the most traumatic events in modern Irish history.

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The inquiry was set up to establish the reasons why the country experienced a systemic banking crisis, including the political, economic, social, cultural, financial and behavioural factors and policies which impacted on, or contributed to, that crisis, and also the preventative reforms implemented since those events.

The brief was broad and, in truth, the inquiry did not always live up to its stated intention, although no particular fault can be attached to the members of the Committee of Inquiry, which under the chairmanship of Labour TD, Ciaran Lynch, by and large acquitted themselves adequately.

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