Gilmore: Banking inquiry must probe guarantee scheme
Labour leader Eamon Gilmore
Labour leader Eamonn Gilmore has said the controversial bank guarantee scheme must be investigated as part of the banking inquiry.
The party has said that if any inquiry proceeds without looking at the decision to offer the €400bn guarantee, it will hold an inquiry if it gets into Government.
The scheme was announced at the height of the banking crisis in September 2008.
It is one of the measures taken by Government that will not be included in the Commission of Inquiry into the crisis
Deputy Gilmore said that decision must be examined because the taxpayer will be living with the fallout for some time.
"They are excluding from its remit the very decisions that were made by Government itself, particularly the decisions on the bank guarantee, which is the source of a lot of our problems now," Deputy Gilmore said.
"The decision to put a blanket guarantee under institutions like Anglo Irish Bank has resulted in the taxpayer having to pay the bill for what has happened in banking."
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