News

ECB gives Irish banking enquiry the two fingers

NewsBy Karl Doyle
Mario Draghi and the ECB seem to have better things to do than answer questions at the inquiry into one of the most important events in the State's history
Mario Draghi and the ECB seem to have better things to do than answer questions at the inquiry into one of the most important events in the State's history

The European Central Bank has effectively given the two fingers to Ireland and declined to give evidence to the banking inquiry.

Members of the inquiry in Dublin wanted to quiz the lender about the bailout of the country's banks.

Chairman of the inquiry Ciaran Lynch said it was "unfortunate and unsatisfactory" that nobody would be attending.

Sources say the reality is that they are fuming at the snub.

The Oireachtas Banking Inquiry committee is investigating Europe's financial rescue of Ireland in 2010.

"While the ECB is outside the Irish jurisdiction and beyond the committee's powers of compellability, we did have an expectation that it would assist us in our work.

"The response is disappointing given that the committee made every effort to accommodate the ECB and also to facilitate it in reviewing and responding to statements and evidence given at our public hearings which referenced the role and influence of the ECB."