The former leader of the Green Party says it's his firm belief that some bankers hid the fact they were insolvent from the Government in the run up to the bank guarantee. 

John Gormley has also told the banking inquiry that he accepts responsibility for implementing two thirds of the austerity budgets after the finacinal crisis emerged.

Mr Gormley insisted he agreed to the bank guarantee in 2008 because he believed it was a liquidity issue with the banks, rather than a solvency one.

He's also asked the inquiry to call current leader Eamon Ryan saying that he dealt with banking issues for the party.

The former Tánaiste Mary Harney is also giving evidence to the inquiry this afternoon.

She says she's proud of her achievements in government - but she says her one major regret is not asking more questions about the idea of a so-called 'soft landing' in the property market: