News & Media

Makhlouf appointment should be suspended

5 June 2019

Statement by Joan Burton
Spokesperson on Finance, Public Expenditure and Reform, and the Arts

Following the announcement of an investigation into the actions of Gabriel Makhlouf while serving as Treasury Secretary in New Zealand, Labour Finance Spokesperson Joan Burton TD has called for the appointment of Mr Makhlouf to the position of Governor of the Central Bank to be suspended pending the results of that investigation.

Deputy Burton said:

“I believe now that the Minister should suspend this appointment pending the results of the investigation in New Zealand.

“The Governor of the Central Bank must be above reproach. Integrity and transparency have not always been at the heart of national financial management in Ireland, and we all know what happened to our economy as a result. Following the collapse of our economy, public trust in financial institutions and the state bodies which govern them collapsed as well.

“It took the best part of a decade to get our economy and public confidence back on track. We cannot jeopardise that confidence by appointing someone under investigation in another country. Minster Donohoe must now suspend the appointment of Mr Makhlouf until the full findings of the investigation in New Zealand are published.”