Enda Kenny (Mayo, Fine Gael)

I understand but I am telling you, a Cheann Comhairle, why I do not agree with the Order of Business. The most important element of today's business is the last proposal.

The original calendar of Dáil sittings circulated by the Chief Whip proposed the Dáil should meet on 13 January. While the calendar states it is subject to change, there is no reason that the Dáil should wait until 19 January to return. The British Government, for instance, will meet on 5 January.

On Leaders' Questions yesterday, Deputy Eamon Gilmore raised the recent comments by the Governor of the Central Bank, Professor Patrick Honohan, that an inquiry be established to look into the reasons behind the catastrophic banking failure in this country. This is not a request from a Member but from the Governor of the Central Bank to an Oireachtas committee.

It is important the reasons and the underlying causes of that failure be known, dealt with and a system put in place to ensure that it does not happen again. I inquired from the chairman of the Committee of Public Accounts, Deputy Bernard Allen, as to whether his committee has the resources and the capacity to conduct such an inquiry. He informed me it does not and neither does the Office of the Comptroller and Auditor General. Such an inquiry will require special legislation. It is of critical importance to everyone as a consequence and, therefore, must be debated fully in the Dáil. We would have an opportunity to do so if the Dáil were to meet on 13 January.

Anglo Irish Bank is continuing with the forbearance of the Financial Regulator under licence. It has skewed the market with the aggressive way it is pursuing deposits. It appears from reports that the Government may have to recapitalise Anglo Irish Bank with between €4 billion and €6 billion.

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