Brian Cowen (Laois-Offaly, Fianna Fail)

Again, I reject the contentions made by Deputy Gilmore. First, on the question of the holding of an inquiry, I said it did require careful consideration. Absolutely. Issues require to be urgently dealt with by Government in the coming weeks and months on the restructuring of the banking system, the transfer of assets to NAMA, and the need to ensure that the recovery and stabilisation we are seeking to achieve in the financial industry is underpinned not undermined. That is the first point.

The second point is a two-stage process. I reject Deputy Gilmore's contention that it is our intention to have the inquiry continue for a long time. We have indicated the timelines we have in mind.

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