Noonan to discuss IBRC inquiry with opposition leaders

The Finance Minister will meet opposition parties today to discuss the draft terms of reference for the inquiry into the former Anglo Irish Bank.

The Commission of Investigation will examine all write-offs at IBRC worth more than €10m as well as any special interest rates which resulted in borrowers saving over €4m.

It comes amid reports the minister will come under pressure to widen the scope of the inquiry and to publish an interim report before the end of the year.

Opposition leaders have accused the Government of trying to shut down debate over IBRC's financial dealings until after the General Election, and are also calling for terms of reference to be extended.

With those criticisms in mind, Minister Michael Noonan will separately meet Fianna Fáil leader Micheál Martin; Sinn Féin's Mary Lou McDonald and Independent TD Catherine Murphy.

Once underway, the inquiry will investigate all write-offs at IBRC worth €10m or more, including the sale of SiteServ to the businessman Denis O'Brien.

It will also investigate allegations raised by Deputy Murphy about any preferential interest rates offered to borrowers.

After this evening's talks, the terms of reference will likely be signed off tomorrow, before a debate in the Dáil.