Thursday, July 02, 2015

It was the barrister wot done it

Former Irish Minister of Finance Charlie McCreevy obliquely explains the country's botched financial regulatory structure prior to the crash --

The new regulatory structure was set up during my time and culminated in two separate Bills in 2002 and 2003. In 1998 the Government agreed in principle to the setting up of a single regulatory authority for financial services. Interestingly, the idea of an SRA was first mooted in 1989 but it was decided not to go ahead with same at that time. We asked Michael McDowell to chair the implementation advisory group.

No comments: