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Ajai Chopra, Marco Buti & Michael Noonan to appear before Banking Inquiry


The Oireachtas Banking Inquiry will conclude its public hearings tomorrow, Thursday, 10th September when it will meet with Ajai Chopra, Marco Buti and Michael Noonan.

The schedule for tomorrow is:

Session A: 9 a.m.
Ajai Chopra, former Deputy Director, IMF

Session B: 11.45 a.m.
Marco Buti, European Commission

Session C: 2.30 p.m.
Michael Noonan T.D., Minister for Finance

Chairman Ciaran Lynch TD said: “At our first session tomorrow morning we will hear from Ajai Chopra, a former Deputy Director of the IMF. Ajai Chopra worked for three decades at the International Monetary Fund where his career focused on country surveillance and IMF lending programs primarily in Europe and Asia but also in Latin America and Africa. He was responsible for the design and monitoring of Ireland’s financial rescue program from 2010–13. His final position in the IMF was as Deputy Director of the IMF’s European Department.

“Among the lines of inquiry that the Committee will address with Mr Chopra are: the EU/IMF/ECB programme of assistance; the role and influence of the ECB; options for burden sharing during the period 2008-2013; the role of the euro zone and international partners in this decision; the adequacy and impact of international organisations’ oversight on banking regulation and supervision activity; the quality and effectiveness of European policies and regulations; the effectiveness of the current regulatory and supervisory structure; and the appropriateness of the regulatory regime

“We continue our hearings tomorrow morning with Marco Buti from the European Commission. Marco Buti has been Director-General for Economic and Financial Affairs at the European Commission since December 2008. He was an economic adviser to the Commission’s President until 2003. From 2003 to 2006 he was Director of Economies of Member States at the Directorate-General for Economic and Financial Affairs, where he was appointed Deputy Director-General in September 2006.

“The Committee will consider the European Commission’s role in monitoring the Irish economy in the years prior to the crisis with Mr Buti, focusing on the economic developments in the run-up to the crisis, both international and domestic, and reviewing the Commission’s role in economic surveillance at that time.

“The final hearing of the Inquiry is with Michael Noonan, Minister for Finance. At this session with Minister Noonan, we will focus on the Government’s responses to the crisis since taking office. In particular, we will examine: What key decisions were made with regard to ongoing management of the bailout? What was the impact of implementing the measures agreed? Is macro-economic policy now being managed in a fiscally responsible manner, in line with EU treaties and other obligations? With regard to the regulatory and structural reforms implemented post crisis, how effectively have these been implemented, operated and managed? And what else remains to be done?”

Further information on the Oireachtas Banking Inquiry can be accessed on the dedicated website. Full committee proceedings will be webcast live on this website while Oireachtas TV will broadcast proceedings from 9am.

Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.

All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:

Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2

P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551

All general enquiries should be directed to the Committee Secretariat.

t. +353 1 618 3651

Committee Membership


Ciarán Lynch (Chairman)
Pearse Doherty
Joe Higgins
Michael McGrath
Eoghan Murphy
Kieran O’Donnell
John Paul Phelan


Sean D Barrett
Michael D’Arcy
Marc MacSharry
Susan O’Keeffe