Billy Timmins (Wicklow, Fine Gael)
Link to this: Individually | In context | Oireachtas source

147. To ask the Minister for Finance the position on recent revelations regarding Anglo Irish Bank (details supplied); and if he will make a statement on the matter. [32871/13]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Like every citizen in this country who is working hard to restore the Irish economy I am deeply disturbed by the taped conversations involving these Anglo executives in 2008 and dismayed to hear senior banking executives refer to the banking crisis with such arrogance. The Irish taxpayer has grimly endured the austere cost of the bank recapitalisation and the bank guarantee. They are understandably outraged by these revelations. Irish citizens have suffered greatly as a direct result of the banking crisis and the events which have led to the bank guarantee. The recent revelations will only serve to reinforce the Government’s resolve to move this country back in the right direction by tightening up regulation and enforcing it.

The tapes raise serious issues and this Government is committed to ensuring that the public is fully informed about what happened in Irish Banks in the lead up to and during the financial crisis. The Government has published the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Bill 2013 which, if enacted, will provide the legal framework for a banking inquiry to be held within the current constitutional parameters. I expect that once that legislation is on the statute books the Houses of the Oireachtas will move quickly to progress that inquiry. It is important that all relevant parties participate fully with any resulting inquiry.

In addition there are ongoing investigations by the Gardaí that must be let run their course. The Central Bank is also carefully studying the various transcripts emerging and they will be liaising with the Gardaí in this regard. The Central Bank is also examining whether or not any breaches of regulatory requirements may have occurred arising from the information contained in the transcripts.