Saturday 24 March 2018

Lenihan's power-grab will make things even worse

Laws making the Finance Minister all-powerful over the banks are dangerously undemocratic, says Daniel McConnell

Dictatorships, history tells us, are essentially about the centralisation of power to one person, or a small number of people. History also tells us that they don't occur overnight, but evolve inch by inch.

It is not overstating things to say that Brian Lenihan's emergency banking legislation (the Credit Institutions Stabilisation Bill 2010) when examined in isolation is dangerously undemocratic, legally dubious and an attack on the rights of property owners across this country.

However, when viewed in the context of the totality of his banking policies since 2008, it is the latest element of the greatest power grab in the history of this State. Once it came into force, Mr Lenihan became all powerful in terms of the Irish banking system.

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