Released this evening:
Report on the crisis in the domestic banking sector:
A preliminary analysis and a framework for a banking inquiryThe collapse of the domestic banking sector in Ireland has created the greatest challenge to the State since it was founded in 1922. In March 2011, the Governor of the Central Bank of Ireland described it as ―one of the costliest banking crises in historyhttp://www.oireachtas.ie/parliament/...rt---FINAL.pdfHaving regard to all of these issues, the Committee strongly believes that a parliamentary inquiry into the banking crisis should be held. It also believes – on foot of the advice of Senior Counsel – that an inquiry can be undertaken successfully under the existing constitutional and statutory framework. It recognises, however, the limitations of an inquiry as a result of the complex legal landscape created by the Abbeylara judgment as well as issues such as Cabinet confidentiality and possible criminal proceedings.