Seanad debates

Tuesday, 2 February 2016

Joint Committee of Inquiry into the Banking Crisis: Statements


2:30 pm

Photo of David NorrisDavid Norris (Independent) | Oireachtas source

I welcome the Minister of State to the House and refer to one item in his speech. He said, "The lending practices of the banks made them vulnerable to a liquidity risk which was not recognised." I raised in this House in the run-up to the financial collapse the matter of a major continental bank that was routinely flouting liquidity regulations. There was no response whatever. It was ventilated in this House but ignored by the Government. I would like to refer to another speech that I saw in The Irish Timestoday. It is the speech of His Excellency, President Michael D. Higgins, launching his report on the President of Ireland's Ethics Initiative. He said, "How could anybody listen to the debate that has gone on about Mr. Trichet's role in the Irish case without being concerned?". Hear, hear.


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