by Andy Storey
Can the European Central Bank (ECB) act as an honest broker in the tracker-mortgage scandal? Fianna Fáil has suggested that it step in to oversee the response of the Irish banks and ensure that customers get the appropriate compensation.
There is a whiff of naiveté (at best) about this proposal. It was the ECB that insisted the Irish government redeem the creditors to the Irish banks in full through the so-called bail-out in 2010, hardly the act of an institution committed to the welfare of taxpayers or the citizenry as a whole.