Brian Cowen (Laois-Offaly, Fianna Fail)

I have set out the position on how the issue will be dealt with. In its first stage there will be two reports, which have already been commissioned. Arising from that and a debate in the House we can see what further steps need to be taken regarding a commission of investigation, etc. That is the Government's position and it is the best way to deal with the matter.

The regulator was employed by the board of the Irish Financial Services Regulatory Authority and in its wisdom it decided to finalise the arrangements with the regulator in that respect. That is how the issue stands.

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