Peadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

What we are seeing, yet again, is a hands-off Government when it comes to dealing with the banks. This State is reeling from a once-in-a-century economic catastrophe. That catastrophe was in large part precipitated by the Fianna Fáil golden circle and Anglo Irish Bank. In 2011, people right across the State voted to smash that golden circle and close the door forever on Anglo Irish Bank. They also voted to ensure this would never happen again. Many people invested their trust in the Labour Party to ensure that was the case.

The Siteserv debacle has demonstrated that, in a few short years, Fine Gael has become more Fianna Fáil than Fianna Fáil itself and the Labour Party is as useful as a mudguard on a tortoise. It bends the mind of people of my generation that despite the destruction of this State, both the golden circle and IBRC are back at centre stage. Last week, in response to demands for a commission of investigation into IBRC, the Tánaiste and leader of the Labour Party said she wanted an independent inquiry by a competent authority.

Is the Minister happy that the review, which the Government has proposed, is a genuinely independent inquiry to be carried out by a competent authority, as demanded by his party leader, when it involves KPMG which played a central role in the sale of Siteserv? Is there not a glaring conflict of interest at the heart of this review, which renders it incapable of assuaging the public concerns that now exist with regard to the Government cover-up of this scandal? Will the Government now move to deal with these concerns by establishing a commission of investigation? Will the Minister guarantee that shareholder activity is contained within the scope of this commission of investigation?

See this speech in context