Monday 23 April 2018

Banking Inquiry: Ex ECB chief Trichet giving evidence

Former Bank of Ireland CEO Brian Goggin also giving evidence from Dail committee room

Paul O'Donoghue

Former ECB president Jean-Claude Trichet is set to give evidence at an event in Dublin this afternoon to members of the Banking Inquiry.

Mr Trichet initially refused to attend the Banking Inquiry, saying the ECB does not answer to national parliaments.

However, after lengthy negotiations with the Government a compromise was reached whereby will answer questions from inquiry members after a lecture at the Institute of International and European Affairs.

Although the inquiry will be able to use Mr Trichet’s evidence as part of their findings, the former ECB chief was supplied the questions in advance.

His comments will be admissable as evidence.

One issue likely to be discussed is the so-called “Trichet letters”, which emerged last year.

Sent by Mr Trichet to former finance minister Brian Lenihan, they revealed that the ECB threatened to cut off emergency funding from Irish banking system unless Ireland applied for the 2010 bailout.

Mr Trichet will answer questions during two 45 minute sessions this afternoon.

Former Bank of Ireland chief executive Brian Goggin will also give evidence through the normal channels at a Daill Eireann committee room.

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