Fianna Fáil has called on the Minister for Finance Michael Noonan to make a statement on reports that the current Secretary General of the Department of Finance John Moran involved himself in email correspondence in 2011 with a representative of the Barclay brothers concerning Paddy McKillen’s banking relationship with IBRC and offered assistance to the Barclay brothers in their quest to acquire Mr McKillen’s loans from the bank.
Fianna Fáil Finance Spokesperson Michael McGrath commented, “The Minister for Finance has repeatedly said that the bailed-out banks are responsible for making commercial decisions on an independent basis and are not subject to any influence from government. Indeed, the division of responsibilities between the government and the banks is clearly laid out in a series of Relationship Frameworks.
“It is therefore difficult to understand why Mr Moran, as Head of the Department’s Banking Unit in 2011, engaged himself in correspondence with a third party about the confidential banking affairs of a customer of a State-owned bank. This begs the question whether there is a special channel in the Department of Finance for certain individuals to have their grievances with the State-owned banks dealt with?
“I believe Minister Michael Noonan needs to make a statement on the information that has now come into the public domain. He should also clarify the nature of the assistance that Mr Moran was offering to the Barclay brothers in relation to their efforts to acquire Mr McKillen’s loans from IBRC.”