ECB 'considering contributing to banking inquiry'
The European Central Bank is reported to be reconsidering its refusal to participate in the Oireachtas Banking Inquiry.
Enda Kenny held talks with ECB chief Mario Draghi last month, where he told him the Irish people want answers in relation to the banking collapse.
The Irish Independent has reported that ECB officials are now discussing whether or not a contribution should be made.
The inquiry will today be examining whether there were any warning signs leading up to the financial crisis here.
The Governor of the Central Bank, Patrick Honohan, will come before a hearing this morning.
Professor Honohan will answer questions on his report on the Irish Banking Crisis, which investigates the period from 2003 to 2008.
The inquiry will also examine the role of a Domestic Standing Group, which was put in place by the Government at the time.
Chairman of the Banking Inquiry Ciaran Lynch TD, says serious questions will be asked about this group.
"This was a group that was put in place by Government which was supposed to be, I suppose the best term to describe them [would be] as a fire brigade service, when a crisis would actually develop," he said.
"So there'll be very significant questions as to what were the precautionary measures that were actually put in place, what simulations of crises had the Central Bank actually played out in preparation for a crisis happening, and were those simulations actually turned into actual behaviour by the Central Bank as the crisis was unfolding."
