Lenihan to meet opposition over bank probe

FINANCE MINISTER Brian Lenihan is likely to meet with opposition parties early next week to examine how to proceed with the planned formal investigation into the Irish banking crisis in the most cost-effective and efficient manner.

Mr Lenihan was before the select committee on finance and the public service yesterday, discussing amendments to the Central Bank Reform Bill – the first of a three-part legislative programme to create the new integrated financial regulation system, which will ultimately see the amalgamation of the Central Bank and Financial Regulator’s office.

The minister’s appearance followed on from that of Central Bank governor Patrick Honohan earlier in the week, – where Mr Honohan questioned the actual need for the Government’s planned commission of investigation into the banking meltdown, on the back of the comprehensive findings of his own recent report and that of international finance experts, Klaus Regling and Max Watson.