The Chairman of the Oireachtas Finance Committee has said it is not practical to launch an inquiry into the banking crisis at the same time as trying to get the economy back on track.
Fianna Fáil TD Michael Ahern says an investigation would be turned by some people into a circus and it could be damaging to the reputation of banks.
Deputy Ahern also said that the practices that led to the banking crisis - excessive lending and questionable types of lending - were already well known by the general public.
"Anyone that doesn't know that is living in fantasy land," he said.
Everybody knows that something fishy went on but there have been no convictions, sincere apologies or the tearing down of the institutional systems that permitted these excesses. Now is the ideal time for an inquiry. The government cannot decide to put it off by having the minions squawk to the national media.