Government Chief Whip Pat Carey has said the hearings of an inquiry into the banking crisis could be held in private initially to gather evidence.
He said the Government is not excluding public hearings at a later stage and added that it is important the Dáil would ultimately discuss 'how all of this happened'.
The inquiry's evidence could be gathered, he said, by a panel of experts - some of whom may come from outside the state.
The Minister for Finance will outline the Government's proposals for a banking inquiry on Tuesday afternoon.
Fine Gael's Simon Coveney said there is a danger that Fianna Fail is trying to take the banking inquiry off the table by keeping the investigation private.
Labour Party leader Eamon Gilmore said earlier today the taxpayer has been hit with a huge bill to pay for the banks and there needs to be a full public inquiry into what happened.
Mr Gilmore said he believes the Irish economy can and will recover but the present Government is too complacent and the corner has not yet been turned.
