Members are currently in a 24 hour window to reach compromises on a series of outstanding issues
The Oireachtas Banking Inquiry has been forced to push back its deadline after a lengthy meeting last night resulted in members failing to resolve ongoing issues regarding the drafting of its final report.
The 11 members have agreed to extend the amendment process for 24 hours, until 6pm tonight. Members have described this new window to reach a compromise as extremely tight - the publication of the report has been delayed by one week until January 27th.
However some members have expressed their belief that the final report may never be published - with one senior member is cited by RTE as saying that the committee is yet to meet any of its main targets, and that the possibility of the inquiry failing is real.
An initial 40-page executive summary of the report was heavily criticised by some members, and subsequently withdrawn.
The Inquiry has cost some €5m to date. It is understood that there are disagreements concerning the political framing of the report and factual inaccuracies were also included in the summary.
Sinn Féin TD Pearse Doherty and Fianna Fáil TD Michael McGrath have both indicated that they could not sign off on the report.
The Irish Times reports that it understands that at one point the European Economic and Monetary Affairs Commissioner Olli Rehn is referred to as a "chief bottle washer".