Statement

Hayes raises Trichet banking inquiry appearance with Mario Draghi

“ECB President Mario Draghi today said that the prospect of former ECB President Jean-Claude Trichet appearing at the Oireachtas Banking Inquiry Committee will be reflected on by the ECB Governing Council and discussed at their next meeting,” said MEP Brian Hayes.

The Dublin MEP raised the question of Trichet’s appearance at the Banking Inquiry Committee to Mr. Draghi at an Economic and Monetary Affairs Committee meeting in the European Parliament today.

“In the interest of transparency and accountability, it is of crucial importance that the ECB cooperates with the Banking Inquiry since the ECB had a significant influence over responses to the crisis in Ireland. Given that Mr. Trichet was a public official at the head of the ECB at the time of the banking crisis, the Committee should be entitled to hear his account of the decisions that were taken in the wake of exceptional economic difficulties,” Mr. Hayes added.

Mr. Draghi commented that he could not give a personal view on the matter and that it is an issue for the ECB governing council to deliberate over at their next meeting in October.

The Banking Inquiry Committee was set up to investigate the banking crisis, particularly relating to the bank guarantee and the Troika bailout. The Committee will conduct hearings with several figures that held senior positions during the banking crisis.

“I welcome Mr. Draghi’s comments and hope that the ECB governing council will consider the matter based on the fact that the ECB is accountable to national parliaments for the decisions they take.”

“If Mr. Trichet does not attend, the ECB should provide documentation, and where relevant, officials, as a means of helping the inquiry with their work,” said Mr. Hayes.

To view MEP Hayes’ intervention, click on the below video:

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