Brian Cowen to be called to four meetings of banking inquiry

Former taoiseach Brian Cowen will be called to give evidence at four sittings of the banking inquiry. The inquiry wants to hear from the former Fianna Fáil leader about his time as both minister for finance and taoiseach.

Mr Cowen is expected to attend the committee during the summer and has been asked to attend the meetings over two days. The appearances will be split over four sittings, with each focusing on a particular part of his time in office. They could last up to 20 hours.

The inquiry wants to question Mr Cowen about his time as minister for finance and the run-up to the bank crash. Members will also ask him about his role in the decision to guarantee the banks and negotiations with the European Central Bank.

The dates have not been finalised but are expected to be on a Wednesday and Thursday in mid-July.

The committee is also to invite Minister for Finance Michael Noonan and former taoiseach Bertie Ahern. Mr Noonan will be brought in during the last round of hearings late this year and asked about the state of the Department of Finance when he was appointed minister in 2011.

Failed negotiations

He will also be asked for details about his failed negotiations with the European Central Bank over the burning of bondholders. A spokesman for Mr Noonan said no invitation had arrived yet but the Minister already co-operated with several Dáil committees.

The committee is expected to call Mr Ahern in to give evidence in the days before the summer recess to document his time in office. The former taoiseach has indicated he is willing to appear before the inquiry.

The next tranche of witnesses will be agreed by the end of next week. The committee must finish its hearings by the end of July to have a report compiled and handed over by November.

Appear

Two members of the inquiry, Fianna Fáil's Senator Marc Mac Sharry and Michael McGrath TD, had raised a proposal to bring in the opposition leader and spokespeople on finance in 2008. This would mean that Taoiseach Enda Kenny, Tánaiste Joan Burton, Pat Rabbitte and Minister for Jobs Richard Bruton would be invited to appear.

Mr Mac Sharry also wants then Sinn Féin parliamentary leader, Caoimhghín Ó Caoláin, and finance spokesman, Arthur Morgan, to be called before them.

Green Party leader Eamon Ryan meanwhile has taken issue with comments of former European Central Bank president Jean Claude Trichet.

Mr Ryan said the information provided by Mr Trichet was “disappointing”. He said a number of the things he said were true but there were “key issues” that he would differ with him on.

“They did push us into a deal and it was done through the media and not through direct communication with the government,” added Mr Ryan, who was a member of cabinet at the time of the bank guarantee in 2008.

Mr Trichet said he did not tell the then minister for finance Brian Lenihan to save the banks at all costs days before a blanket guarantee was introduced.

Mr Ryan said the “absolute clear message” from the body was that you did not let banks go when you were so close to the edge. Mr Lenihan’s family has also taken issue with Mr Trichet’s comments.