Kevin Cardiff, Secretary General of the Department of Finance, has today been appearing before the Public Accounts Committee to answer questions about the papers relating to the banking crisis that were released a week ago. He has so far told the committee that the Government was faced with a crisis that developed very quickly and, when it reached a stage that none of the Irish banks could borrow money, it was decided that an all encompassing solution was required. That resulted in the all encompassing guarantee given to the banks.

He was reluctant to criticise former financial regulator Patrick Neary. He seemed to have some sympathy for the position in which he found himself while at the same time felt that he could have been more decisive.

Cutting costs preferred to increasing taxes

Little was revealed about the detail discussed at yesterday's Cabinet meeting at Farmleigh. Taoiseach Brian Cowen did indicate that the emphasis in the 2011 Budget will be on cost savings rather that tax increases. The Budget will also focus on increasing consumer spending and creating employment.

Convention centre opening date questioned

While the new national convention centre is due to host its first conference in September the Irish Times reveals today that work has yet to start on a sewage pumping station which was an integral part of the planning permission. The temporary licence to use the existing sewage system expires at the end of the month.

It appears that the developer, Treasury Holdings, is in dispute with the Dublin Dockland Development Authority over the design of the pumping station. It is now awaiting a response on its latest submission and a spokesman for the DDDA said that the application is under review and that  a decision will be made in due course. While it will take a minimum of eight months to build the pumping station, Minister for Tourism, Culture and Sport Mary Hanafin says she has heard nothing to suggest that the Convention Centre will not open as planned.

Murder investigations in Fermanagh and Kildare

Following the death by stabbing of Ciarán Woods (36), Lisnaskea, Co. Fermanagh early on Tuesday, Gary Philip Moane (34), from Brookeborough, today appeared in court on a charge of murder. He is also charged with wounding Kathleen McQuaid and threatening to kill Damien McCrudden on the same occasion. The offences took place at a house in Tempo on Tuesday morning.

Krystian Morowski (21) died in an incident in his home in in Newbridge, Co. Kildare, early on on Tuesday. When gardaí arrived at 5:30am they found the young Polish man dead from a stab wound to the heart. Others in the house claimed that he had taken his own life but following a post-mortem examination gardaí launched a murder investigation.

On Wednesday a man (aged 46) and a woman (aged 40). were detained for questioning about the death. Mr Morowski lived with his mother, stepfather and five-year-old brother. The family arrived in Ireland five years ago.

75 Quinn Insurance jobs saved

A joint examiner at Quinn Insurance announced yesterday that the 75 redundancies planned at the consumer sales business in Enniskillen will not now go ahead. Michael McAteer told employees on Wednesday that the jobs will be retained as business has picked up since the regulator lifted the ban on car insurance sales in the British market in April.

Despite an increase in premiums Quinn is retaining more existing customers and attracting more new business, in both Britain and Ireland, than was forecast.

Today's Papers

The Irish Times and the Irish Examiner both lead with yesterday's parliamentary meeting at Farmleigh, with "Savings to be achieved through cuts not taxes, says Cowen" and "Budget will aim to get savers spending". The Irish Independent reports on a further revelation, apparently unknown to Minister for Finance Brian Lenihan, about the former Anglo chief; the headline reads "FitzPatrick company got new loan on the day Anglo nationalised".

The Irish News headline, "We will protest again", concerns the group of Ardoyne residents who protested about the Orange parade through their area. The Ardoyne area experienced four nights of violence in the days before and after the parade

The Weather in Galway

Although it is windy this morning the sun is shining and the day seems set to be mostly dry. Temperature 18C.

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