Banking probe may compel witnesses

Legislation to compel witnesses to attend public hearings and powers to rein in senior politicians are just some of the proposals being considered as part of the Government’s banking inquiry.

The Oireachtas Public Accounts Committee is finalising its plans for an inquiry into the financial crash and the banking crisis, which is likely to ask former taoiseach Brian Cowen to attend to give evidence.

However, the Irish Examiner has learnt that the inquiry may not produce findings but rather focus on an open investigation or ‘narrative’ into the banks because of legal restrictions.