Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

As we have a quorum, the Committee of Inquiry into the Banking Crisis is now in public session. Can I ask members and those in the public Gallery to ensure that their mobile devices are switched off. We begin today's session No. 1, which is a public hearing and discussion with Mr. Brian Cowen, former Taoiseach and Minister for Finance. In doing so I'd like to welcome everyone to the public hearing of the Joint Committee of Inquiry into the Banking Crisis. Today we continue our hearings with senior members of the Government who had key roles during and after the crisis period. This morning and this afternoon we will hear from Mr. Brian Cowen, former Taoiseach and Minister for Finance. Brian Cowen was a TD for Laois-Offaly from June 1984 until February 2011. He held several senior positions in Government, and served as Minister for Finance from September 2004 until May 2008 when he succeeded Bertie Ahern as An Taoiseach. At this mornings session we will focus on Mr. Cowen's tenure as Minister for Finance, from his appointment until the general election of 2007, and deal with matters dealing with Mr. Cowen's tenure as Minister for Finance from 2007 until his appointment as Taoiseach, this afternoon.

Before I hear from the witness, I wish to advise the witness that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to this committee. If you are directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you are entitled thereafter only to a qualified privilege in respect of your evidence. You are directed that only evidence connected with the subject matter of these proceedings is to be given.

If you are directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you are entitled thereafter only to a qualified privilege in respect of your evidence and you are directed that only evidence connected with the subject matter of these proceedings is to be given. I would remind members and those present that there are currently criminal proceedings ongoing and further criminal proceedings are scheduled during the lifetime of the inquiry which overlap with the subject matter of the inquiry. Therefore, the utmost caution should be taken not to prejudice those proceedings. Members of the public are reminded that photography is prohibited in the committee room. To assist the smooth running of the inquiry, we will display certain documents on the screens here in the committee room. For those sitting in the Gallery, these documents will be displayed on the screens to your left and to your right. Members of the public and journalists are reminded these documents are confidential and they should not publish any of the documents so displayed. The witness has been directed to attend this meeting of the Joint Committee of Inquiry into the Banking Crisis. You have been furnished with booklets and core documents. These are before the committee, will be relied upon in questioning and form part of the evidence of the inquiry. So with that said, if I can now ask the clerk to administer the oath to Mr. Cowen, please.