Ciarán Lynch (Cork South Central, Labour)
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As we have a quorum, the Committee of the Inquiry into the Banking Crisis is now in public session. And can I ask members and those in the public Gallery to ensure that their mobile devices are switched off. Session 1 of today's hearings is a discussion with Professor Patrick Honohan, Governor of the Central Bank of Ireland. In that regard, I would like to welcome everyone to the public hearing of Joint Committee of Inquiry into the Banking Crisis. Today we will continue our hearings with senior figures from the Central Bank who had key roles during the crisis period.

This morning and this afternoon we will hear from Professor Patrick Honohan, Governor of the Central Bank of Ireland. When Professor Honohan appeared before this inquiry earlier this year the purpose was specifically to discuss his report on the banking crisis. In this morning's session we will focus upon the period of Professor Honohan's tenure, from his appointment in September 2009 to October 2010, while this afternoon's session will focus on developments in the period from November 2010 to December 2013. The then Governor of the Central Bank of Ireland, Patrick Honohan, was appointed on 26 September 2009. Before his appointment as Governor, he was Professor of International Financial Economics and Development at Trinity College Dublin from 2007. Prior to this he spent almost a decade at the World Bank, where he was a senior adviser on financial sector policy. He recently announced his intention to retire later this year. Professor Honohan, you're very welcome before the inquiry this morning.