Oireachtas Joint and Select Committees

Thursday, 12 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Dr. Elaine Byrne:

Yes, but in Ireland's case we were particularly financially vulnerable. At the close of the 1992 general election, for instance, Fianna Fáil was in debt to the tune of €3.5 million and Fine Gael owed more than €1 million. That perhaps was, in part, due to the turbulence of elections and campaigning in the 1980s. What I was trying to set there is the context, that by the time the boom came about political parties and political individuals were very financially vulnerable. In my book I detailed particular individuals and their struggles to finance their elections. Even if it was a small donation it would have meant quite a lot to those individuals and political parties, which may then have presented a more opportune example or opportunity for individuals and parties to be influenced.