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'Wise person' to lead early banking probe

The Government has identified an international "wise person" to lead a key part of its banking inquiry.

The expert will carry out a preliminary investigation of the near-collapse of the banking system over the next four months and this will be used to decide what areas the Banking Commission of Inquiry will focus on in its private hearings.

Tanaiste Mary Coughlan told the Dail yesterday that Finance Minister Brian Lenihan had identified a particular individual. "A person has been asked to consider the position and the minister is awaiting their decision," she said.

The announcement of the identity of the individual is expected to be made later this week.

It came as a worldwide survey on what people think of major institutions like government, business and the media found that Irish people had little faith in banks, business and politics. People are now more likely to turn to Facebook and Twitter for information than long-established media outlets.

Irish Independent