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02/12/2011
Financial Crash To Be Probed By Dáil Cmmtee
A high-powered Dáil committee is to probe the banking crash that blighted the Irish Republic's financial system.
The Public Accounts Committee will conduct the official inquiry into the banking collapse - but only within its current legislative powers.
The idea of seeking additional legislative powers to carry out the inquiry has now been dropped after legal advice and it has instead decided to carry out an investigation into the financial market collapse within its existing powers.
It can now report on the actions of specified public bodies including the Financial Regulator, the Central Bank and the Department of Finance and will be able to establish the facts behind the financial collapse, but it will not be able to make findings.
The Irish Times said today that they would hope to begin hearings in the New Year and have a list of possible witnesses drawn up before Christmas.
(BMcC)
The Public Accounts Committee will conduct the official inquiry into the banking collapse - but only within its current legislative powers.
The idea of seeking additional legislative powers to carry out the inquiry has now been dropped after legal advice and it has instead decided to carry out an investigation into the financial market collapse within its existing powers.
It can now report on the actions of specified public bodies including the Financial Regulator, the Central Bank and the Department of Finance and will be able to establish the facts behind the financial collapse, but it will not be able to make findings.
The Irish Times said today that they would hope to begin hearings in the New Year and have a list of possible witnesses drawn up before Christmas.
(BMcC)
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