Thursday 19 October 2017

Bank probe would drive investors away

REGRETTABLY, I have to agree with the Taoiseach's view that an independent investigation of the causes of our economic crash would damage our international reputation and lead to further economic hardship for the country.

Yes indeed, Taoiseach, you are right, the 'markets' would react very unfavourably to the exposure of the fact that the people who were responsible for the disaster are still in their positions of power within the banks, the Government, the Department of Finance and indeed, in many instances, the regulatory system.

What investor in his right mind would want to invest in a banana republic that bails out the bankers and fails to punish the incompetent, the negligent and even the corrupt at the higher echelons of its society? Instead, let us keep things 'hush, hush' and maybe the 'markets' won't notice and our problems will magically disappear.

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