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19/04/2011
Cabinet To Examine Banking Report
The Cabinet are due to consider the findings of a report on the causes of the banking crisis today.
The report will highlight "herd mentality" and bankers who failed to address poor banking practices. However, individual politicians will not be blamed in the report.
Written by Peter Nyberg, who worked with the Finnish finance ministry, the report is believed to be highly critical of the lack of governance in banks, and the lack of control employed by the Central Bank and the Regulator.
The banking report also discusses the role of the Department of Finance, economists, the media and the Government played.
Today's review will be later published by Minister for Finance Michael Noonan.
(BMcN/GK)
The report will highlight "herd mentality" and bankers who failed to address poor banking practices. However, individual politicians will not be blamed in the report.
Written by Peter Nyberg, who worked with the Finnish finance ministry, the report is believed to be highly critical of the lack of governance in banks, and the lack of control employed by the Central Bank and the Regulator.
The banking report also discusses the role of the Department of Finance, economists, the media and the Government played.
Today's review will be later published by Minister for Finance Michael Noonan.
(BMcN/GK)
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Ireland WeatherToday:A mostly cloudy day with outbreaks of rain, most persistent and occasionally heavy across southern and western counties this afternoon. Risk of low cloud and fog patches affecting the Down coast. Light winds. Maximum temperature 15 °C.Tonight:Continuing cloudy through the evening with further outbreaks of rain, the rain turning lighter and patchier from the south overnight. Winds remain light. Minimum temperature 8 °C.
