Tuesday 27 September 2016

Banking inquiry report delayed as attempts to resolve difficulties fail

Published 03/12/2015 | 09:06

The Oireachtas Banking Inquiry is expected to face fresh delays
The Oireachtas Banking Inquiry is expected to face fresh delays

The Oireachtas Banking Inquiry's deadline has been pushed back following a late meeting last night with some members of the committee questioning whether the report will be published or not.

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Inquiry members are now dealing with a new 24-hour extension after the committee broke last night to consider a new timeline.

It's now understood that the inquiry will look to agree a draft - as well as an executive summary on Friday - with the ambition to sign off on Sunday.

The publication deadline of the inquiry is January 28 and in order for that to be met the inquiry has to go to interested parties by the middle of the week at the latest.

Speaking on RTE's Morning Ireland, Fianna Fáil finance spokesman, Michael McGrath, said that the report is in the best condition it has been since the start of the inquiry but admits more time is needed.

"The draft that we are considering is in the best state that it has been, thus far. But it does require further work and all of the members are engaging in that process," he said.

The draft report into the collapse of the banks has been strongly criticised by members.

It was described as incoherent and confusing by sources who have read it in full.

A source said: "We are facing delays - and any new delays could be fatal."

Mr McGrath said that the inquiry would meet tomorrow to discuss and decide upon amendments submitted today.

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