Brian Cowen (Laois-Offaly, Fianna Fail)

-----not what people think or assume are the causes, and to do so through the use of the best available expertise and in a timely and cost effective manner. The framework which has been brought forward by Government seeks to learn from the lessons of the past where inquiries have gone on for too long and to ensure that answers are obtained as quickly as possible and within a timeframe in which they can inform what needs to be done. Ireland's international reputation would not be assisted by an inefficient inquiry that is not focused. Such an inquiry would not serve the public as it would inhibit, not assist, the steps necessary for recovery.

Each of the three essential stages of the inquiry involves the Oireachtas or uses a process determined by it. The first stage involves a preliminary consideration of the causes of the regulatory failures and banking crisis by independent experts. The Oireachtas will be involved from the beginning because the Oireachtas committee will meet the Governor of the Central Bank and the independent expert or experts at the outset to brief them on the priorities of the Oireachtas for investigation. Those experts will independently consider what happened, provide their preliminary view on the causes, decide what needs to be done and the further investigation that needs to be carried out.

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