Wednesday 22 November 2017

Brendan Keenan: Right words hard to find as Central Bank sees danger

Brendan Keenan

Brendan Keenan

WITH bated breath, we await the report of the Oireachtas Banking Inquiry. Although, truth to tell, it was all to do with the Central Bank and Financial Services Authority. Note the two functions in a single name. We wait to see if the report can shed some light on how both functions failed so dismally.

One despairs at the judiciary's long role in making the feeble Irish democracy even more infantile but I'm not sure that its determination that no one should ever suffer opprobrium, other than in court, need be as damaging to the inquiry's potential as is generally assumed.

Suppose the inquiry concludes that minister A told official B to do something they shouldn't; or not to do something they should. It cannot put that in the report but the important question is why the system let A feel free to behave that way, and B to believe that it was better to obey?

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