Michael Noonan has been very honest with the Irish people, says Bruton
Jobs Minister Richard Bruton has denied Michael Noonan misled the Irish people, claiming he has been “very honest” around the issue of burning bondholders.
It comes as Social Democrats TD, Stephen Donnelly called for the Finance Minister’s resignation over contradictions in a speech made in the Dáil and his comments to the Oireachtas Banking Inquiry.
Speaking at jobs announcement in Dublin’s East Point Business Park this morning Mr Bruton said: “I find it very difficult to understand the commentators who got it massively wrong in the advice they were tendering to the Irish people are now criticising the very man who consistently got it right.”
In 2011, Mr Noonan told the Dáil, during exchanges with Mr Donnelly, that he had not been threatened by then president of the ECB Jean Claude Trichet.
However, last year in evidence to the Banking Inquiry, he gave a different account of what happened when he tried to burn boned holders, telling the inquiry that Mr Trichet had said that “a bomb would go off” in Dublin if he proceeded.
Asked if Mr Noonan should clarify differences in Dáil statements and the findings of the Banking Inquiry, Mr Bruton said: “No, I think Michael was very clear throughout this on the vulnerabilities of the Irish economy, on the bankrupt state that effectively we were in, the dependence on ECB, the dependence on the troika and he is on the record on explaining that.”
He added: “I think Michael Noonan has been a fantastic steady pair of hands through a very difficult period, I think he handled this issue with great adeptness, I think he has been very honest with the Irish people are he always is.
“He has explained it as it is,” Mr Bruton said, adding that the Finance Minister made decisions that were in the best interest of the country.
The minister also echoed Taoiseach Enda Kenny’s comments on the need for a second referendum to strengthen the powers given to similar Oireachtas inquiries.
“There is now a lot of commentary; I think the Banking Inquiry hadn't the scope that it might have had, that it would have been a stronger inquiry had the Oireachtas had more power,” Mr Bruton said
“So I think the Taoiseach is right that this is an issue that we should look afresh at.
“I vigorously supported that referendum at the time but the citizens in their wisdom, one way or the other decided one way.”
He said members of the inquiry had created a “fantastic piece of work” which now provides us with an archive of material.
“I think it forever people who were active at that time to account for their stewardship in public, those were important achievements.”
