Following much discussion, and almost six years after the
infamous bank guarantee was put in place by the Irish State, the
process of establishing a parliamentary inquiry into the collapse
of the Irish banking system, made up of members of the Oireachtas
(the "Banking Inquiry"), has
finally begun.
On 14 May 2014, formal steps began to establish the Banking Inquiry
under the Houses of the Oireachtas (Inquiries, Privileges and
Procedures) Act 2013 which provides for six different types of
inquiries. A Joint Committee of the Oireachtas was appointed
to prepare a proposal of the type of inquiry required and the scope
and terms of reference. Following some initial controversy as
to its membership, the Joint Committee has met on a regular basis
with a view to presenting its proposal to the Oireachtas in
September 2014. It has also been reported that a nine-member
panel of technical experts from both public and private sectors,
has been appointed to assist the Banking
