Gilmore demands inquiry into banks

Posted on December 16, 2009 at 03:03 PM

A year ago saw the resignation of Sean Fitzpatrick as chairperson of Anglo Irish Bank following the revelation that he had been moving personal loans from Anglo to another institution and back in order to conceal them. Since then we've seen a Garda raid on the bank and we are told that the Director of Corporate Enforcement is doing an investigation. Today during Leaders' Questions the Labour Leader Eamon Gilmore TD demanded to know when the Government will establish such an inquiry.

Since then, Eamon told the House, banks are still not lending to people as they should be, Anglo Irish Bank has been nationalised, some €4,000 million of taxpayers' money has been put into it while another €7,000 million has been put into AIB and Bank of Ireland, between them it comes to €11,000 million of taxpayers' money.

"It is the largest bank robbery ever, except on this occasion, it is the banks robbing the people."

Eamon demanded an inquiry into what was happening in the banks.

"An investigation would also expose the fact that the Taoiseach presided over this when Minister for Finance. He is afraid that in an inquiry, the track will lead to his door. This is the reason he will not allow it and for the response he has just given. This is not going to go away... We are not going to draw a line under it...The people of this country are entitled to know what type of carry on was going on in the banks that led to the mess we are in now."

Eamon's full contribution is available to view in the accompanying video while you can read the full transcript of the debate on the Oireachtas website.

Tagged with Finance • LeadersQuestions • eamongilmore