Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Updated 5pm
THE FORMER HEAD of the European Central Bank (ECB), Jean-Claude Trichet, has indicated he would be willing to cooperate with the banking inquiry in some form having previously stated he could not.
The ECB’s refusal to cooperate with the Oireachtas committee investigating the causes of the Irish banking crash has caused controversy with the bank insistent that its legal responsibility is to the European and not the national parliament.
But in a letter to the inquiry, Taoiseach Enda Kenny has said he recently raised the matter with both Trichet and his successor Mario Draghi.
According to Kenny’s letter, Trichet has indicated that while it is not legally possible for him to go before a national parliamentary committee he could meet with Irish MEPs in Brussels to answer any relevant questions or an appropriate Irish institution or third party could invite him to Dublin where he could respond to questions.
The 11 TDs and Senators charged with investigating the collapse of the Irish banking system view Trichet as a key player.
He opposed the idea of burning Anglo bondholders and is said to have forced Ireland to issue a blanket guarantee of all assets and liabilities in the banking system.
Speaking today, committee chairman Ciarán Lynch said it was “a positive progression from the ECB’s previous position” while noting that the inquiry itself had not yet received a response from the Frankfurt-based bank.
“I have always said that this is not about individuals or personalities but about the information that the ECB would make available to the Committee to assist us in our work,” he said.
“What we are seeking is a methodology with the ECB which gives the Committee information to clarify the positions that the Institution took during Ireland’s banking crisis in order to provide the Irish public with the fullest picture.
“Many pieces of the jigsaw of the financial crisis remain to be put in place, for example, the two years and two month period between the time of the guarantee up to the entry into the bailout programme and what engagement or role the ECB had with the Irish State during this time.”
However, one of the two Fianna Fáil inquiry members, Michael McGrath, said that the ECB’s response is “totally inadequate”.
He explained: “As I understand it the members of the inquiry can only consider the evidence that is presented directly to them when they come to write their report.
“Therefore any information that is put forward outside the terms of the inquiry itself is immediately devalued and its admissibility as evidence must be seriously open to question.”
Fine Gael TD John Paul Phelan welcomed the move by Trichet but said that the bank should publish the legal advice that it cannot appear before the committee itself.
“I think many people in Ireland will find it difficult to understand how Mr Draghi broke no laws in speaking to a German Parliamentary committee as he did in 2012, but now has legal advice saying the ECB can’t speak to an Irish parliamentary committee,” the Carlow-Kilkenny deputy said.
In a further boost for the inquiry, a bill designed to give it access to confidential Central Bank documents is before the Seanad today and is due before the Dáil next week.
First published 3pm
To embed this post, copy the code below on your site
If there’s no suggestion that the new incinerator has anything to do with the infestation of flies why mention it…….
Also businesses have had to close? Seriously, dramatic much?
@Ian Breathnach: exactly! However The sewage treatment plant could be a possible source.
@Bob Lynch: How dare you suggest that something well established in the area be the cause of this when clearly there is a controversial ‘monstrosity’ in Poolbeg that can be blamed.
@Ian Breathnach:live in ringsend and no businesses have closed. Further no flies.
Because that’s a conclusion a lot of readers would come to .
@Ian Breathnach: You can’t serve food with so many flies, both were catering businesses that ad to close. I’ve gone through 3 cans of pest spray since Monday in our house , the sticky fly paper is covered with them and despite all the windows and doors being closed , more seem to be getting in.
@Sueann Moore: catering business in Ringsend? Theres 8 pubs, 1 spar, Lars shop. 1 butcher. Ladbrookes, tesco, pharmacy. 2 chinese take aways, a chipper, 2 barber, estate agent, hair dresser and a few places near the toll bridge. If there in your house its probably eggs hatching inside and living of fruit.
How did the flies know there was a bathing ban on Sandymount Beach.
Could it be all the dog poo the locals don’t bother cleaning up?
I was wondering why there were so few flies around this year and now I know why. They’re all in Dublin.
I’d love to be a fly on the wall at the next local residents meeting.
Sorry just acting the maggot.
@marcus connolly: buzz off with your puns
@Rónán O’Suilleabháin: no flies on you!
@marcus connolly: live there and theres no issue
Chris is talking shite
@Joseph Blocks: could be the ointment!!!
If had lots of flies in my house, the last person I would call would be the local counsellor.
I would just buy fly killer. Lots of snowflakes out there.
@Dave Sherman: Both Tescos ,both hardware shops and local shops all sold out in Ringsend & Sandymount all week. Finding the source of infestation is a rational step. Councillors have more access to info
@Dave Sherman: why use fly killer? Why not use your bare hands ye snowflake. I do it with my eyes closed. On a serious note though stop using that phrase, i see it in just about every online “debate” and its tiresome.
Bastarsd are everywhere
@Graham Bolton: All flies are love babies,they don’t marry. They won’t let me use bast***s.
I think there has been an increase everywhere I’m not in Dublin and never had flies coming into house or being everywhere in garden had a few bumblebees but not flies black and green ones everywhere can’t eat outside, BBQ, or have pool out for kids over them
@Heather White: that’s nature for ya
Global warming: every 0.25 % increase in average temperature encourages 5x more fly larvae to hatch.
By 2020 the whole place will be covered in them unless we can recruit more bats, birds and frogs with long sticky tongues to inhabit our suburbs.
Think the flies looking for the cheap tents in D4
Where is Rinsgend???
@Noel Madden:
It’s near where 3,000 homes are now planned for development…at The Irish Glass Blue Bottle site made infamous during Celtic Tiger era on amount borrowed for its acquisition!
@Rory J Leonard: No there just normal flies, not. Blue bottles
@Noel Madden: co perineum
@phil: You win.
Leo should declare a no Fly zone over ringsend.
Definitely Aliens
cavanta?
It’s probably to do with the waste incinerator
@Benny Dowling: sure the heat, being beside the liffey or the sewage treatment plant have nothing to do with it.
Something big is dead and the flies are coming from the corpse. Had about 500 flies in my parents house when there was a dead rat under the floor. So so many flies
@Veronica: is it Kay-Tee from Fair Citeeee? Did they find hur yeh’?
Those Flygrants might be just off the ferry, or a floater seeking a better way of life
No rent crisis in ringsend.
Dont live in ringsend so i couldnt give a flying fu(k. Thats it. I’ll grab my jacket!
I live in Dublin 3. There was loads of flies in our apartment. One day my wife said in jest “there’s so many, we’ll have to start charging them rent” I laughed initially but then I thought why don’t I. I put it to them, however, at Dublins current rent prices the flies up and left so problem solved.
It’s the incinerator….
Very poor journalism, the paragraph about the incinerator makes absolutely sweet F A sense, you might as well say the Aviva stadium is relatively close
It’s the dog shite on pathways!!
Don’t ever kill a spider
have your say