Brian Cowen (Laois-Offaly, Fianna Fail)

I read in this morning's newspaper about what the Governor of the Central Bank said to an Oireachtas committee. From my point of view, the resources of the State are currently involved in ensuring banking stability and that we can deal with the economic and financial issues that arise. I am sure there will be economic historians and economists who will continue to talk about the failure of the regulatory system in this and other countries regarding the challenge faced by us.

However, I would have to carefully consider such an inquiry before giving any commitment. As we know from the Abbeylara case, there are limitations on Oireachtas committees being able to inquire into questions of fact. There is also the question of other established inquires which are still ongoing and to what extent they have been able to deal with the issues in a timely fashion that does not undermine but maintains confidence in our banking system. This initiative would have to be carefully considered.

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