| 0.8°C Dublin

Inquiry is split over former ECB boss Trichet's late U-turn

Close

Our revelations today regarding the 'Chopra tapes' make it imperative that the former head of the European Central Bank (ECB), Jean-Claude Trichet, and the former head of the Troika mission to Ireland, Ajai Chopra, are immediately called before the Oireachtas Banking Inquiry.

Our revelations today regarding the 'Chopra tapes' make it imperative that the former head of the European Central Bank (ECB), Jean-Claude Trichet, and the former head of the Troika mission to Ireland, Ajai Chopra, are immediately called before the Oireachtas Banking Inquiry.

Our revelations today regarding the 'Chopra tapes' make it imperative that the former head of the European Central Bank (ECB), Jean-Claude Trichet, and the former head of the Troika mission to Ireland, Ajai Chopra, are immediately called before the Oireachtas Banking Inquiry.

MEMBERS of the Oireachtas Banking Inquiry are split over a proposal by the former head of the European Central Bank Jean Claude Trichet to contribute to the inquiry without attending public hearings.

In a significant development, Mr Trichet has rowed back on his previous refusal to partake in the inquiry.

But the former ECB President said it isn't legally possible for him to give formal evidence in front of the inquiry and will instead have to reach a compromise with members.

Mr Trichet said he is willing to answer questions about the banking collapse from Irish MEPs in the European Parliament.

An alternative proposal, Mr Trichet said, would involve him answering questions in Dublin if he is invited by "an appropriate Irish institution or third party".

Details of Mr Trichet's partial U-turn have emerged in a letter sent to the chairman of the Banking Inquiry Ciaran Lynch by Taoiseach Enda Kenny.

Mr Kenny told the Labour TD that Mr Trichet wrote to him directly to put forward the new set of proposals.

However, the proposals have been met with a mixed response from members of the inquiry team.

Fianna Fail's Michael McGrath and Marc MacSharry described the compromise as "totally inadequate", while Fine Gael TD John Paul Phelan said it is "disappointing" that Mr Trichet has "stopped short in committing to attend the inquiry".

But other members of the inquiry said the compromises should be considered closely.

constructive

"In my view, saying people have to attend and 'that's it' shows you don't live in the real political world," said Fine Gael senator Michael D'Arcy.

Mr D'Arcy described the proposal as an "olive branch", a view echoed by his party colleague Eoghan Murphy.

"This is constructive engagement from the ECB as a first step," he said.

Politicians from all parties have insisted that it is essential Mr Trichet partakes.

hnews@herald.ie


Privacy