A "sensational" report revealing the failings that led to €5.4 billion of taxpayers’ money being pumped into Irish Nationwide must be made public, opposition parties demanded last night.
Finance Minister Michael Noonan was accused of hypocrisy for demanding openness in probing the banking collapse while in opposition, but "sitting on" a key investigation now he is in power.The Department of Finance has been in possession of the final report by Ernst & Young and solicitors McCann Fitzgerald since the middle of last year, but insist the findings are subject to "legal privilege".
Fianna Fáil finance spokesperson Michael McGrath dismissed the claims, saying taxpayers still had the right to see it.
"I am led to understand this report is quite sensational and details unacceptable practices that prevailed in Nationwide.
"Those practices contributed to a situation whereby €5.4bn of public money was put into the building society because of how exposed it had become.
"The public should now be allowed to see how this came about and whether state agencies will now take any action because of it.
"Even if parts of the report need to be redacted for legal reasons, it must be placed in the public domain," Mr McGrath said.there is more