Off the hook: Banking inquiry told it can't sue ECB

The banking inquiry has scrapped its key recommendation that the ECB should be sued over its refusal to permit the burning of bondholders.

It is understood that the finding was removed from the final draft last week after consultation with the inquiry’s backroom legal team.

The original draft had called on the government to instruct the attorney general to pursue the ECB, which was led at the time by Jean Claude-Trichet and has ...