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FORMER ECB PRESIDENT Jean-Claude Trichet is being disrespectful towards the Irish parliament by refusing to go before the Oireachtas banking inquiry, a senior minister has said.
Leo Varadkar said that Trichet should make himself available for the forthcoming inquiry after the Frenchman told Newstalk that he could not go before TDs and Senators because of the ECB’s constitution.
Politicians charged with investigating the collapse of the Irish banking system will view Trichet as a key player given he opposed the idea of burning Anglo bondholders and is said to have forced Ireland to issue a blanket guarantee of all assets and liabilities in the banking system.
Varadkar said this morning that Trichet needs to “show some respect for our national parliament and make himself available for the inquiry” saying that while he is independent of the bank now he has retired that does not make him unaccountable.
“I think it’s disrespectful to our national parliament for a former head of the ECB, someone who’s salary was paid by European taxpayers, to refuse to attend a parliamentary inquiry and I think he should do that,” Varadkar said.
Trichet insisted this morning that the decision on the bank guarantee was taken “by the Irish government alone without any consideration” either with the European Central Bank or other countries.
Speaking in Dublin this afternoon, the Tánaiste Eamon Gilmore said that he would expect anyone who is invited to appear before the inquiry to make themselves available, including Trichet.
“The public are entitled to know why decisions were taken,” Gilmore said adding that it is his view that “that does include people in the ECB, including Mr Trichet”.
Separately, the identities of the TDs expected to serve on the inquiry are likely to be known later today when the government moves the motion to establish the inquiry in the Dáil this evening.
- additional reporting from Paul Hosford
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Cun£ !!
John
What a way with words. What a command of language. What a brave contributor.
PS you left your surname out of the picture! Was that deliberate?
He wants to make damn full sure he doesn’t throw a spanner in the works of continuing Irish passivity to any and all measures inflicted.
Pixieheads keep your heads down and repay you debts.. There is nothing in a banking inquiry that you don,t know already, perhaps that’s why he is not going to appear .
this gov and the last are disrespecting us, why would you have any respect for a bunch of apes that took on a 100bn of debt with playing hardball.
Too right Dee. Why would we expect some Frenchie to respect our National Parliament when hardly anyone living here has respected those plods for years. Treat them with the contempt they deserve Jean-Claude !
The Lisbon treaty rears its ugly head and Trichet is protected. The ECB is as unaccountable as the rest of the gangsters.
Talk is cheap Leo. Why doesn’t government take a case to the European Court of Justice where Trichet could be compelled to attend? As the 2 year blanket bank guarantee was close to expiring during the autumn of 2010, the ECB under Trichet forced the Irish government into full repayment of all bank bondholders from senior secured right down to junior unsecured under threat of withdrawal of liquidity funding from the Irish banks. The ECB utterly exceeded its mandate in this matter and a legal case needs to be taken to the ECJ. The ECB can make amends to Ireland by reimbursing us to the value of the illegitimate debt and interest it imposed on us. They can also compensate us for the damage inflicted on the Irish economy as billions have been extracted from the pockets of the people to pay for the failure of speculative financial capitalism.
The Lion makes his statements safe in the knowledge that that tramp Trichet will never be forced to appear anywhere. It shows a cuddly side to government that someone in there is fighting our corner by trying to bring the nasty foreigners to task.
Until the people of the country actually realise the fact that they are being royally screwed on the altar of capitalism, we will see a continued indifference to the appalling imposition foisted on this fine nation. We have to get past the ‘someone must pay for it’ attitude.
He’s laughing at these goons and well he might
He’s laughing at these goons and well he might”
– if they are goons – what does that make the people who voted for them – and will again – and the well nigh silent Irish .
I agree. The Irish electorate has never really grown up. We are still like spoiled children which is why we vote in such terrible governments.
Leo why would Trichet bother himself to visit Ireland? He already knows we do as we are told…..
Varadkar obviously wants to eclipse his hypocritical comments earlier today defending of Shatter’s lawbreaking by throwing out an even more ridiculous populist soundbyte about Trichet.
Leo really thinks he is a master of media manipulation. Like anyone who dabbles in these dark arts, the media will soon take him down too. Live by the sword, die by the sword.
He isn’t the only one who has no respect for our National Parliament.
Leo Eamo its election time we know about soundbites remember the Bondholders will be burned if FG get into power and Labour its labour way not Frankfurt……..So fk off with the indignation the Dept of Finance has the letters exchanged so why dont you reproduce/ release them undacted..
Why would anyone think that this man would bother playing along with this labour lead sideshow. yet again we have politicians investigating decisions made my other politicians. Another media circus which will not get us one cent back from the bondholders. We need a system were those who make decisions which leads to others having to emigrate from this country or worst feel the have no other choice other than to take their own life must be held accountable.
Totally agree. But cue @Bee Shop telling us why we’re numbskulls for not respecting the name and for being naive enough to expect him to defend his “excellent work” before a Parliamentary Committee of Inquiry.
Trichet must be pissin in fear after that chastisement from the bold Leo..as if..
Was he trained in The Vatican, or does he simply not do country house conversations? Could ex Governor Hurley not speak lucidly and with vitality on his behalf?
In my opinion the reason Trichet is hiding behind the ECB even in retirement is he was a puppet for the German and French governments, they called the shots not the ECB. Ireland’s banks were heavily indebted to German and French banks and both Merkel and Sarkosy were determined that their banks would not take a haircut and imposed the entire loss on the Irish taxpayer. The letter from Trichet to Lenihan exists, if he was to appear before the enquiry it would have to be released by the ECB as an exhibit and that is the last thing both the German and French want to happen. Bring on the next European referendum that requires unanimious support from all EU members, then and only then can we use debt forgiveness as a bargaining chip for our support.
Trichet? This slimeball is another reason why the EU is bad for Ireland
Ladies and gentlemen it’s now 2014. This inquiry will unearth nothing of value.
None o’ these MOFO’S think they’re accountable to anyone & our gang of feckin muppets do nothing to stand up for our country! Fact.
Why are we surprised by this declaration, if anyone bothered to read the wording around EMSF or whatever it was we had a referendum about last year, it quite clearly says the governeror of the ECB is not and will not be accountable to any national parliament or court. Trichet is merely obeying the rules.
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