Ivana Bacik (Independent) | Oireachtas source

I agree, however, that a debate about the nature of the banking inquiry would be useful and perhaps we might have that soon. I understand that, as yet, it has not been decided precisely which entity will take it, whether it would be the Joint Committee on Finance, Public Expenditure and Reform or a sub-committee of that committee. I agree that it is important that the joint committee or sub-committee members would be resourced adequately and would get the expertise available to enable a thorough investigation. I believe the focus is correct. It is appropriate that the initial focus would be on the agreement to make or decide upon the bank guarantee. That is the right focus because so much stems from that. There is also the added difficulty that to focus on Anglo Irish Bank has the potential to jeopardise three trials which are pending.

It is timely that we saw yesterday the publication of the Director of Public Prosecutions annual report in whose foreword she specifically warns the media of the need for vigilance and that they do not jeopardise trials with adverse pretrial publicity. She referred to the risk of the delay of trials, even indefinitely, and pointed out that this risk increases as the trial date approaches and publicity surrounds it. Were there to be an inquiry focusing on Anglo Irish Bank in the immediate run-up to the trials of senior figures in Anglo Irish Bank, it could have a serious effect on the progress of those trials.

I have said it before in the House and I will say it again, that while everyone wishes to see a thorough inquiry carried out, the priority for everyone is to see the criminal justice process being brought to bear where appropriate and necessary. People want to see a resolution of the criminal justice process and we should not be doing anything that might delay or jeopardise the criminal justice process, where it is appropriate and has been initiated, as it has in respect of particular people in Anglo Irish Bank. We need to be careful. It is not that Anglo Irish Bank will not or should not be investigated by an Oireachtas inquiry; it should be.