The Labour Party is to table a Private Members Motion in the Dáil calling for a 'comprehensive parliamentary inquiry' into the banking crisis.

Party leader Eamon Gilmore said the party would also next week publish a Bill designed to address what he called 'defects' in current legislation governing the powers of the Dáil and Seanad to conduct inquiries into important issues.

'Decisions made by the banking sector, particularly in regard to the financing of property deals have created an economic crisis of unprecedented seriousness and have placed a financial millstone around the necks of successive generations of Irish taxpayers,' he said.

RTÉ Business: Labour plans Dáil move on banks probe