Tuesday 20 March 2018

Hogan says Anglo tapes a ‘consequence’ of FF regulation

Fiach Kelly Political Correspondent

ENVIRONMENT Minister Phil Hogan has launched a stinging attack on Fianna Fail over the Anglo tapes - saying the damning recordings are the "consequences" of the light touch regulation introduced by the party.

Mr Hogan's comments are the most politically pointed of the controversy so far, and he said the revelations would make the "blood boil" of any "any ordinary human being in this country".

He blamed Fianna Fail for the financial collapse and accused their current TDs of trying to "wash their hands" of the party's responsibility. 

"People have made an enormous amount sacrifices in this country because of the activities of the financial institutions and the light touch regulation that was introduced by Fianna Fail over a number of years in government," Mr Hogan said. "So we have seen the results of that and I notice that a number of Fianna Fáil spokespersons are trying to wash their hands of their involvement in Government in 2008.

"The Central Bank and the regulator were separated from each other during their term in office, we had a culture of light touch regulation and now we see the consequences of it with the Anglo tapes. It's certainly outrageous that such a cavalier and callous attitude take place."

He said the Government are taking the issue very seriously, and will soon decide how to carry out the banking inquiry.

Meanwhile Health Minister James Reilly also told the Dail that Fianna Fail and Anglo-Irish Bank helped ruin the country through "criminal negligance or utter incompetence".

Education Minister Ruairi Quinn said the tone of the tapes "is really what offends most people".

"A lot of people lost money because of the Anglo debacle and the debts have now been foisted onto the backs of every taxpayer in the country and to hear the discussions that have been revealed in these tapes in quite shocking," Mr Quinn said.

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