The Banking Inquiry Committee has agreed on a draft report.
The document was completed last night – albeit without an executive summary and without the signatures of two of its members.
It recommends that the state launches legal action against the ECB, over its stance on burning bondholders.
After the first version of the report’s executive summary was considered not political enough – and the second version TOO political – the third version was dropped, due to time pressure which left members unable to consider formal amendments.
The preface written by chairman Ciaran Lynch has been expanded to serve as a summary instead.
The recommendations are set to include a call for the state to take legal action against the ECB over its stance that stopped Ireland from burning senior bondholders.
Members said they were relieved to finally have a document complete – even if its findings were not considered strong enough for either Pearse Doherty or Joe Higgins to sign off on.
And while their decision will give rise to claims of political motivations, the report itself will now begin three days of legal checking before a copy is sent to witnesses – the remaining nine members will hold their breath and hope a legal challenge doesn’t follow.
