It's clear Trichet has questions to answer
Published 18/04/2015 | 02:30
Our revelations today regarding the 'Chopra tapes' make it imperative that the former head of the European Central Bank (ECB), Jean-Claude Trichet, and the former head of the Troika mission to Ireland, Ajai Chopra, are immediately called before the Oireachtas Banking Inquiry.
Representatives of the ECB must also face formal questioning by elected representatives in Ireland about its role in the events of 2008 to 2010. Mr Trichet has dangled the unsatisfactory carrot of being willing to cooperate with the inquiry without appearing in formal sessions. It is not good enough.
We now know that Mr Chopra, who headed the International Monetary Fund (IMF) mission to Ireland, has told an influential audience that the ECB went beyond its remit in pushing Ireland to impose austerity and that it was, as he called it, an "outrageous overreach" of the mandate of the European Central Bank.