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19/04/2011
Cabinet To Examine Banking Report
The Cabinet are due to consider the findings of a report on the causes of the banking crisis today.
The report will highlight "herd mentality" and bankers who failed to address poor banking practices. However, individual politicians will not be blamed in the report.
Written by Peter Nyberg, who worked with the Finnish finance ministry, the report is believed to be highly critical of the lack of governance in banks, and the lack of control employed by the Central Bank and the Regulator.
The banking report also discusses the role of the Department of Finance, economists, the media and the Government played.
Today's review will be later published by Minister for Finance Michael Noonan.
(BMcN/GK)
The report will highlight "herd mentality" and bankers who failed to address poor banking practices. However, individual politicians will not be blamed in the report.
Written by Peter Nyberg, who worked with the Finnish finance ministry, the report is believed to be highly critical of the lack of governance in banks, and the lack of control employed by the Central Bank and the Regulator.
The banking report also discusses the role of the Department of Finance, economists, the media and the Government played.
Today's review will be later published by Minister for Finance Michael Noonan.
(BMcN/GK)
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Ireland WeatherToday:Dry this morning with any mist and fog patches clearing. This afternoon will be cloudy with rain, occasionally heavy, spreading across all areas. Windy with afternoon with fresh to strong southerly winds, gales along the east coast later. Maximum temperature 10 °C.Tonight:Cloud and rain soon clearing away from the west this evening. Then the rest of the night will be mainly dry with just the odd shower. Winds easing down. Minimum temperature 7 °C.
