HARRY McGEE Political Correspondent

SEVERAL SENIOR Government figures have now ruled out holding a public inquiry into the banking crisis any time in the immediate future.

Minister for Foreign Affairs Micheál Martin said yesterday such an investigation was not an immediate priority for the Government, strongly indicating such a vehicle would not be established during 2010.

Mr Martin said he supported the views express by Minister for Finance Brian Lenihan earlier this week that the Government’s first priority should be to ensure that Nama was established on a sound footing and that clean banks emerged.

Mr Martin’s comments drew strong criticism from the two main Opposition parties. Both claimed the Government had no intention of setting up an inquiry. They also said they would raise the issue when the Dáil returned on January 19th.

Fine Gael deputy leader Richard Bruton said Mr Martin’s line of argument seemed to be that the State must avoid scandal at all costs if Nama was to get on track.

“Professor [Patrick] Honohan [governor of the Central Bank], holds an independent position,” Mr Bruton said. “The first thing he has asked for it an investigation. The first response of Government is that we are far too busy and we cannot do it. If this request is rejected on that spurious ground, people will feel disappointed.

Separately, a motion calling for an early inquiry into the banking crisis, due to be heard at the first Fianna Fáil parliamentary party of 2010, has been withdrawn.

Government Chief Whip Pat Carey confirmed the motion had been withdrawn indefinitely, with the agreement of the two deputies who tabled it, Mattie McGrath, Tipperary South, and Seán Connick, Wexford. However, Fianna Fail’s Chris Andrews said he could see no good reason why an early inquiry should not be held.

Fianna Fáil rules out bank crisis inquiry for now - The Irish Times - Thu, Jan 07, 2010