TD issues warning on banking inquiry delays

A member of the Oireachtas banking inquiry has said it could collapse if anyone tries to challenge it.

TD issues warning on banking inquiry delays

A member of the Oireachtas banking inquiry has said it could collapse if anyone tries to challenge it.

TDs have been told they must issue their final report before the next election as the inquiry will collapse when the Dáil is dissolved.

The inquiry meets today after the summer break to sign off on its terms of reference, but isn't planning any public hearings until early next year.

Fianna Fáil's Michael McGrath said any delays could be fatal.

"There are a lot of potential barriers," Deputy McGrath said.

"It is open to anyone to challenge the workings of this inquiry in the court at any time.

"We would be very naïve to think that everyone is voluntarily going to walk up Kildare St and say 'what do you want to know lads?'.

"They're not necessarily going to be that cooperative."

Deputy McGrath added that the public hearings need to begin straight away, to avoid the risk of any legal delay.

"There is certainly a risk that the inquiry will not work out because of the very tight timeline," Deputy McGrath said.

"We have to commence public hearings now as quickly as possible so that those who were responsible for running the banks themselves, who built up the losses, are given the opportunity to come before the inquiry and answer the questions."

However Agriculture Minister Simon Coveney says the Government would not have set up the inquiry if they thought it couldn't be done before the election.

"Yes of course the timetable is going to be difficult," Minister Coveney said.

"This is a complex job that they have to do - there will be a lot of people that they have to interview (and) they'll need to do it in a non-partisan way, so that it's credible.

"But of course I think it's doable - we wouldn't be setting it up if we didn't think it was."

Public Expenditure Minister Brendan Howlin meanwhile said he is hopeful that lack of cooperation from witnesses won't be an issue.

"I hope everybody will cooperate fully - all public officials, all former politicians and current politicians, external people who were involved - I hope everybody will fully cooperate," Minister Howlin said.

"But I think that the agility of the committee is that they can get on with another piece of work if something has to be put on hold for a week or two."

The inquiry’s 11-member committee, chaired by TD Ciarán Lynch, was established in May and began preporatory work in June.

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