It seems increasingly unlikely that the Government will give way to an inquiry into the causes of the banking crisis.

The calls for such an investigation have been led by the Governor of the Central Bank and the Green Party leader John Gormley, however a number of Ministers have shunned the idea.

Independent Senator Shane Ross says an inquiry into the banking crisis is needed to restore confidence but he admits it’s now extremely unlikely.

“There are so many unanswered questions, there are so many things happening behind closed doors – you can only come to the conclusion that the government doesn’t want  to hold an inquiry into the banks because the government has something to fear” he said.

“That’s perfectly normal and natural – they were in power during the time that the banks went buzzirk”.

“They don’t want people to probe into how they made their decisions, and it’s quite obvious that they’re putting up their defences and there’s not going to be any bank inquiry” he added.