Published: Tue, 28 October 2014
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The ECB has further confirmed to Sean Kelly MEP that it will set the date for the release of the infamous “Lenihan-Trichet” letter, which allegedly precipitated the Irish bailout, on November 6th.
“Further to their commitment to me that they will release the “Lenihan-Trichet” letter, the ECB has informed me that they will decide on the release date at their Governing Council meeting on November 6th. After which, they will confirm to me the exact date of release. Furthermore, they intend to release the letter to me directly following my request some months ago and they will release the letter publicly,” Mr Kelly confirmed today (Tuesday).
“The public release of the infamous letter is a very important move in the interests of transparency and ahead of the impending banking enquiry. Irish people have a right to know the thought processes of key policymakers who took such momentous decisions,” the Ireland South MEP added.
As revealed yesterday, in a letter from the ECB Board to Mr Kelly of August 26th, the Board reiterated its policy to withhold release of the letter, in a similar line to the answer given to European Ombudsman Emily O’Reilly in March of this year. However, the ECB gave an undertaking to review the situation at the conclusion of the ongoing Bank Stress Tests (or “comprehensive assessment”).
In follow on correspondence, Mr Kelly asked the ECB two further questions: 1) to give an estimated deadline for conclusion of the Stress Tests and 2) to give a commitment to release the letter at that point.
In reply, the ECB stated that the Stress Tests should be finished by the end of this month (October) and that once they are completed, the conditions would then be appropriate for the letter’s release.
In communicating with Mr Kelly yesterday, the ECB confirmed it will announce the date for the release of the letter on November 6th and will inform the MEP of that decision.
