DISGRACED former Taoiseach Bertie Ahern has spoken of how he "wished" he predicted the financial crash because then he "might have been able to do something".

Mr Ahern also pledged that he would appear before a banking inquiry but will deny any responsibility for the collapse of the economy.

He made the remarks in a rare interview that coincided with President Michael D Higgins historic State visit to Britain.

Mr Ahern, who led the country during the Celtic Tiger years of reckless lending and light-touch banking regulation said he initially thought he missed warning signs but later checked international banking reports published during his tenure which he believes absolve him of any blame.

"Unfortunately it all happened, at least the bailout stuff, after my time," he said.

Mr Ahern infamously dismissed warnings from economists on the collapse of the housing market by suggesting naysayers should "commit suicide" rather than question spiralling house prices.

Yesterday, while speaking to Pat Kenny on Newstalk, Mr Ahern laughed when he was questioned about dissident voices on the banking crisis.

"They are normally wrong actually, the voices in the wilderness, and now and again they are right," he said.

Mr Ahern was forced to resign as leader of Fianna Fail in 2008 following the publication of the Mahon report on payments to politicians for planning decisions.

The tribunal found Mr Ahern failed to "truthfully" explain how he received large amounts of money and rejected his claim he received "dig outs" from friends when his marriage broke down.

He was succeeded by Brian Cowen, who introduced the bank guarantee scheme and oversaw the financial bailout.

The Government's long delayed inquiry into the €64bn bank bailout is expected to begin later this year.

Mr Ahern and Mr Cowen are likely to be called to give evidence during the hearings which, it is hoped, will be completed before the next general election in 2016.

Current and former banking officials, along with senior civil servants involved in the banking crisis, will also be asked to attend.

INQUIRY

The three pronged inquiry will examine the controversial bank guarantee of September 30, 2008; the banking regulatory regime; and the internal banks' workings.

A €5m budget has been set aside to pay for at least 30 extra staff including barristers, solicitors and banking experts.

The Dail Committee on Procedure and Privilege headed by Ceann Comhairle Sean Barrett is charged with establishing the landmark inquiry.

HNEWS@HERALD.IE