Martin expects bank report to blame regulators

Sunday 17 April 2011 22.17
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Micheál Martin - 'Systemic failures' in the past
Micheál Martin - 'Systemic failures' in the past
1916 Commemoration - Event at Arbour Hill
1916 Commemoration - Event at Arbour Hill

Fianna Fáil leader Micheál Martin has said he expects the Nyberg report on the banking crisis to acknowledge that the regulators did not do their job.

He said he expects that the report will find that this was the case not just in Ireland, but internationally as well.

Speaking today at the party's annual 1916 Commemoration at Arbour Hill in Dublin, Mr Martin said ‘systemic failures’ had been made in the past.

The Fianna Fáil leader said he accepts his party's responsibility while in government, but said there has been a co-ordinated attempt by the Fine Gael and Labour Government to blame Fianna Fáil.

Mr Martin added that the new Government is not in a position to do what the parties said they would during the election campaign, when ‘they knew the state of the economy and were in denial’.

Separately, Mr Martin said he does not support the sale of State assets, such as Dublin, Cork and Shannon airports, because of the role they play in the connectivity of the island.