Banking inquiry begins today; ECB a no-show

The Oireachtas banking inquiry officially begins its public hearings this morning - after the news overnight that no member of the European Central Bank will appear before it.

Banking inquiry begins today; ECB a no-show

The Oireachtas banking inquiry officially begins its public hearings this morning - after the news overnight that no member of the European Central Bank will appear before it.

The inquiry's public hearings will begin with questions to Finnish banking expert Peter Nyberg, who has written a report into Ireland's collapse.

Last night the inquiry was dealt a blow with the news that the European Central Bank will not come to Dublin for any hearings.

Members had been hoping that the bank's former president Jean-Claude Trichet would attend to explain his

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The European Central Bank threatened to cut off emergency funding from the Irish banking system in November 2010, with the threat contained in a letter from then ECB President Jean Claude Trichet to the late former Finance Minister Brian Lenihan.

However the bank has written to the inquiry last night to say it will not accept any invitation to attend.

Mr Trichet previously said he had no interest in taking questions at Leinster House.

The inquiry's chairman Ciaran Lynch said the committee was nonetheless determined to deliver its results within the next year.

"We have a very clear project plan with regard to the steps that have to be taken (as part of) the inquiry," he said.

"The committee is of the view that this is a body of work, though challenging, that can be done (within the timeframe)."

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