Local TD says banking inquiry will get to the bottom of the crisis by the end of 2015

John Paul Phelan says we’ll find out what happened in the banking crisis by the end of next year.

The Oireachtas banking inquiry’s agreed its terms of reference at a meeting today.

They’ll now have to be cleared by lawyers, go to the two Committees on Procedures and Privilege and be voted on in the Dáil and Seanad.

It means the inquiry is could get underway in a few weeks.

Fine Gaels Deputy Phelan is on the committee – and he says the timing will be tight be we gat get to the truth in the next 12-14 months..