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Bank probe can't come too soon

AT LONG LAST, the Government is moving to establish the banking inquiry – almost six years after the crash.

A motion to set up the inquiry will be put before the Oireachtas next Tuesday, with the Taoiseach saying he hopes investigations will be under way by the end of the year.

The beleaguered taxpayer will find it hard to believe that it has taken this long to set up the inquiry.

Any further delays will be unacceptable.

We need to know the full details of what led to the ruinous 2008 bank guarantee and why regulation failed so badly.

The Taoiseach has already succeeded in politicising the inquiry, yesterday criticising the light-touch regulation of the previous Fianna Fail-led government.

We can expect more of this, from all sides, as the inquiry approaches.

The time will come for blame, but first we must establish the facts.

To that end, we need this inquiry to get under way as soon as possible.