Neale Richmond (Fine Gael) | Oireachtas source

Apologies have been received in advance of the meeting from Senator Frances Black, whose substitute is named as Senator Grace O'Sullivan. Before we begin, I remind members and witnesses to switch their mobile phones off or to airplane mode.

On behalf of the committee, I am delighted to welcome Dr. Gabriel Fagan from the Central Bank of Ireland and his colleagues, Mr. Mark Cassidy and Ms Mary-Elizabeth McMunn, for this very important session as we continue the work of the committee. We have already had quite a few discussions with a number of people on a range of areas, but today's sessions will focus very much on the economic impacts of, and possible solutions to, the problems presented. We very much look forward to the engagement with the witnesses. After the initial statement we will have a chance for a very good back-and-forth through questions and answers. However, before we begin, I must read out a note on privilege.

Members are reminded of the long-standing parliamentary practice to the effect that they should not comment on, criticise or make charges against a person outside the Houses or an official either by name or in such a way as to make him or her identifiable. By virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. If they are directed by the committee to cease giving evidence on a particular matter and they continue to do so, they are only entitled thereafter to qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given and they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person or entity by name or in such a way as to make him, her or it identifiable.

I again thank the witnesses for their presence. I pass the floor to Dr. Fagan.