Written answers

Thursday, 4 July 2013

Department of Finance

Banking Sector Investigations

Photo of Joanna TuffyJoanna Tuffy (Dublin Mid West, Labour)
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88. To ask the Minister for Finance if he will provide an update on the Government's plans in relation to investigating the events that led to the guarantee and nationalisation of Anglo Irish Bank; and if he will make a statement on the matter. [32701/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Government has already indicated that it is determined to uncover the causes of the banking crisis in Ireland which has caused such devastation in the Irish economy and necessitated the bailout from our international partners in late 2010. The key mechanism to achieve this will be the establishment of a formal inquiry into the banking crisis enabling all those involved to come before the inquiry and provide the necessary information in order for the truth to be uncovered.

In this regard, the Government has published the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Bill which, once enacted, will provide the legal framework for a banking inquiry to be held within the current constitutional parameters. This legislation is being prioritised both in the Department of Public Expenditure and Reform and in the Office of the Attorney General. I expect that the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Bill to be enacted before the summer recess.

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