Eamon Gilmore (Dún Laoghaire, Labour) | Oireachtas source

We are all shocked and disgusted - that has certainly been my reaction - by the content of the Anglo tapes. The arrogance, contempt and sheer greed of those recorded on those tapes is disgusting. In light of what we know about the damage that was done to our country as a result of the actions of these individuals, most people have been sickened by what they have heard. As indicated earlier, people are also frustrated by the fact that it has taken so long for the full facts to emerge and for those responsible to be held to account. It is difficult for citizens to understand why the wheels of justice have moved so slowly or why a full public inquiry into what happened, particularly on the night of the blanket bank guarantee, has not yet taken place.

I share people's frustration. It must be accepted, however, that complex and difficult investigations are under way. In 2009 the Office of the Director of Corporate Enforcement seized 3 million electronic documents and more than 5,000 original hard-copy documents. In addition, the Financial Regulator compelled the production of approximately 45,000 hard-copy documents and approximately 9 million electronic documents. Regardless of how frustrating it may be, there are good reasons why the criminal justice system is independent of politics and why the Government cannot control or influence the work of the Garda or the Director of Public Prosecutions in these matters. As the Minister for Finance informed the House yesterday, a number of civil and criminal cases are currently under way. In that context, the leaking of the tapes is viewed by the special liquidator as a serious matter. Accordingly, the special liquidator is investigating how they came to be leaked. Given the serious cases that are under way, we must be careful with regard to what we say in order to avoid prejudicing any criminal or civil proceedings.

What the Government and the Oireachtas must do is ensure that there is a proper inquiry into both the public policy issues involved and the disastrous decision to provide the former Anglo Irish Bank with a blanket guarantee or bailout. It was in this context that the Minister for Public Enterprise, Deputy Howlin, brought forward the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Bill 2013 in order provide a solid basis for Oireachtas inquiries. It will be a matter for the Oireachtas to constitute an inquiry as soon as possible after that legislation has been passed. That inquiry is the forum at which the relevant questions must be put to directors, including the public interest directors, of the former Anglo Irish Bank. Those questions must be posed in public and the inquiry must operate in accordance with the provisions contained in the legislation introduced by the Minister for Public Enterprise, Deputy Howlin, and currently before the House. I hope that latter will be passed by this and the Upper House during the current session in order that we might proceed with establishing the inquiry as quickly as possible.

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