Banking Inquiry

Oireachtas committee asks why Ireland experienced a systematic banking crisis? Where did the money go? What were the political, economic, and social factors involved? And what reforms have been implemented to in the wake of the crisis?

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The banking inquiry found the ECB issued an explicit threat to Ireland if it proceeded to burn senior bondholders. The warning was issued through a phone call between Michael Noonan andJean-Claude Trichet followed a phone conversation between Enda Kenny and Mr Trichet. File photograph: Simon Dawson/Bloomberg

Kenny silence on Trichet phone call not ‘sustainable’

Ó Cuív urges Taoiseach to detail content of conversation about debt burden sharing

Inquiry team: chairman Ciarán Lynch (centre) with Mark McSharry TD, Senator Michael D’Arcy, Michael McGrath TD, John Paul Phelan TD, Kieran O’Donnell TD, Senator Susan O’Keeffe, Eoghan Murphy TD and Senator Sean Barrett. Photograph: Eric Luke

Oireachtas banking inquiry: hits and misses

In 49 days of hearings, 131 witnesses gave testimony. Its purpose: to investigate Ireland’s troika bailout. Its cost: €6.6 million. What did it get right, and what did it get wrong?

“It was Europe’s biggest property bust.” Photograph: Dominic Lipinski/PA Wire

Ulster Bank predicted fall of 20% in house prices before crash

Analysts appeared to have bought into the ‘soft landing’ scenario popular at the time

The Central Bank was legally prohibited from providing emergency liquidity to an insolvent institution

Irish State looked at bank guarantee options in early 2008

Department of Finance explored possible scenarios nine months before banking crisis

The construction industry lobbied the government for a property stimulus package three months prior to the establishment of the National Asset Management Agency (Nama).

Developers asked for stimulus plan months before Nama set up

Minutes said developers wanted corporate borrowings kept separate from personal assets

Jean-Claude Trichet: Three times he threatened to cut Ireland loose. Photograph: Eric Luke

Don’t blame Frankfurt bogeyman Trichet for our ills

The senior bonds debacle is resonant because it reflects a profound sense of injustice

Dermot Gleeson: “Unfortunately I do not have a copy of the document – it does not appear to have survived.” Photograph: Clodagh Kilcoyne

Gleeson says AIB not told of blanket guarantee

Former chairman of bank thought it would be confined to pillar banks

Michael Fingleton: he was controversially paid a €1 million bonus by Irish Nationwide in November 2008. Photograph: Cyril Byrne

Fingleton gave £10m loan with no approval

INBS chief approved top-up loan without sufficient backup, inquiry papers show

Patrick Neary: the then financial regulator accepted the bank guarantee was a ‘throw of the dice’. Photograph: David Sleator

Anglo said it would be the most profitable bank after guarantee

Draft plan claimed bank could overcome ‘issues’ caused by crisis, inquiry told

Social Democrat TD Stephen Donnelly TD: he said the Government had been elected on a clear mandate to burn the bondholders. Photograph: Gareth Chaney Collins

Government denies Noonan misled Dail on burning bondholders

Social Democrats deputy Stephen Donnelly calls for Minister for Finance’s resignation

Former chief executive of Irish Nationwide, Michael Fingleton also changed the interest rate on a loan offer without noting the date of change. Photograph: Eric Luke / The Irish Times

Michael Fingleton allowed £10m loan increase without approval - banking inquiry

Shortfall among a litany of weaknesses at Irish Nationwide highlighted by inquiry report

Former minister for finance Brian Lenihan was diagnosed with pancreatic cancer in December 2009 and died in June 2011. File photograph: Frank Miller/The Irish Times

Stress of crisis may have been factor in Lenihan’s death, TD says

‘It would not surprise’ Micheal McGrath if pressure contributed to minister’s illness

Joe Higgins did not contribute to the final banking inquiry report, producing a minority report instead. Photograph: Eric Luke/The Irish Times

Banking inquiry members clash over ‘bias’ accusation

Eoghan Murphy said Joe Higgins planned to oppose report before even signing up to committee

Chairman Ciaran Lynch (c) and members of the Oireachtas banking inquiry at the publication of the inquiry’s report at Leinster House, Dublin. Photograph: Brian Lawless/PA Wire

Burning bondholders ‘could have saved the State €9bn’

NTMA advised Government of possible savings in March 2011

Jean-Claude Trichet, former president of the European Central Bank (ECB), who led the ECB during Ireland’s bailout. On Thursday the ECB said it had always been transparent about its role in Ireland’s economic crash. Photographer: Chris Goodney/Bloomberg via Getty Images

Banking inquiry: ECB says it was always transparent about role

‘External authorities’ warned a ‘bomb’ would go off if State tried to burn bondholders

Brian Cowen, former taoiseach, prior to his appearance before the banking inquiry. File photograph: Cyril Byrne/The Irish Times

Susan O’Keeffe: Banking inquiry is part of our growing up as a nation

This is what accountability looks like. It’s incredibly slow and not very pretty but digging for the truth is the murkiest job in the world

Sinn Féin TD Pearse Doherty: Said Oireachtas banking inquiry report is a series of quotes from senior bankers, politicians and civil servants without any analysis or insight. Photograph: Dara Mac Dónaill

Banking inquiry report a ‘disservice to the Irish people’

Pearse Doherty declines to sign off on final report, calling it ‘incoherent and dysfunctional’

Former financial regulator Patrick NearyPatrick Neary arriving at the Oireachtas banking inquiry last May. Photograph: Dara Mac Dónaill.

Banking inquiry: Timeline

Former ECB pesident Jean-Claude Trichet: the banking report attributed a pivotal role to a threatening letter from Trichet in advance of the bailout. Photograph: Eric Luke/The Irish Times

European Central Bank sharply criticised in report

Committee says ECB insisted there would be no burden-sharing with bondholders

Oireachtas banking inquiry findings do not bear out Taoiseach Enda Kenny’s claim of three years ago that an “axis of collusion” existed between Fianna Fáil and the banks. Photograph: Ruben Sprich/Reuters

Findings unlikely to have a huge bearing on Fianna Fáil vote

Electorate does not need banking inquiry report to decide if has quite finished with FF

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