Tuesday 12 December 2017

Inquiry into banks must be called immediately

THE collapse of Anglo Irish Bank cost the Irish people €30bn – and the interlinked battering of our banking system cost us pretty much the same again. Today's revelations in this newspaper show at very least a profound cynicism and cavalier lack of candour which some bank leaders showed the Irish authorities at a time when Irish banks were on the threshold of disaster in autumn 2008. Today's news will add to the disillusionment of a public who felt they were long ago rendered incapable of being shocked when it came to the Irish banks.

It will, above all else, remind us all that we know next to nothing about how all the main Irish banks were dragged to death's door with such huge implications for all our lives.

The reality is the Irish banks have cost us all a whole lot more than those staggering sums of money which will take generations to repay. The whole vortex of Irish banking chaos and collapse was the decisive factor in the loss of our economic freedom. And without economic freedom, all other freedoms are illusory.

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