Ombudsman questions delay in setting up inquiry into banking crisis

Ombudsman Emily O’Reilly has questioned why it has taken so long to have an inquiry into the banking crisis in Ireland.

"Other countries managed to do inquiries fairly quickly. Obviously we know the history, the Oireachtas inquiry referendum and various hiccups along the way, but I am always convinced where there is a will to do something there certainly is a way," she told The Irish Times yesterday.

Legal process
"Obviously there's a legal process to be gone through and the DPP is involved but we're a long time waiting nonetheless," she said.

Whatever happened “it should be very thorough, it should be very forensic and there should be as few barriers in its way as possible.

“So I can understand, in the wake of the Anglo tapes, the zeal politicians and members of the public feel as well, to really have a decent incisive inquiry into this.

“But it would be a waste to time and money, and would greatly add to the frustration of the nation, if we didn’t get what we wanted.”

She said she had often remarked "on how there was a great new zeal for information and transparency once the crash happened and we can see with the Anglo tapes just how important that was.

'Commercial sensitivity'
"So many times I've heard the argument made about commercial sensitivity. In the wake of the Anglo tapes we can see the huge public interest in getting the level of transparency that we now, belatedly, through a leak, are being treated to."

As European Ombudsman she hoped to bring to that office what she had done as Ombudsman in Ireland over 10 years, which she summed up as “impact and visibility”.

She hoped “to make the office more visible . . . to bring it on to another level in terms of its impact, its importance, its role in the context of the wider public administration”.