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Noonan: Government would welcome Trichet attending banking inquiry

Michael Noonan says the government would "welcome" Jean Claude Trichet if he attends the Oireacht...
Newstalk
Newstalk

19.10 6 Nov 2014


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Noonan: Government would welco...

Noonan: Government would welcome Trichet attending banking inquiry

Newstalk
Newstalk

19.10 6 Nov 2014


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Michael Noonan says the government would "welcome" Jean Claude Trichet if he attends the Oireachtas Banking Inquiry.

The former ECB president has ruled out giving evidence at the inquiry - despite being in charge when the bailout was agreed.

Mr Trichet was the author of letters released today, which threatened to cut all funding for Irish banks unless Ireland took a bailout.

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Speaking in Brussels this evening the Minister for Finance said Mr Trichet will still be invited to attend:

“Well obviously they will be invited I understand, from the chairman of the banking inquiry. I don’t think they have any power in the banking inquiry to compel people to attend the banking inquiry but certainly if Mr Trichet or a representative were to attend I think that would be welcomed by the Irish Authorities,” Mr Noonan said.

Mr Noonan said he did not think there was anything surprising in today's letters.

“I don’t think there’s anything new in what the ECB are now saying. But as I say, all these matters will be scrutinised during the banking inquiry and conclusions will be drawn.

“It’s not for a current minister to draw conclusions before they have even sat and examined the evidence, Mr Noonan added.

The letters show how Trichet told Brian Lenihan the ECB would cut funding to Irish banks if the country did not take the bailout.

The ECB has however denied that the letter “pushed” Ireland into a bailout, but rather the “scale of the domestic crisis that made (the bailout) necessary”.


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