The former head of the European Central Bank has said he could take questions to help the work of the Banking Inquiry.
But Jean-Claude Trichet says he is legally constrained from appearing in Leinster House - and may only be able to take questions in Brussels.
The former ECB president, who presided over the bank at the time Ireland was forced into its bailout, has written to the Taoiseach saying he wants to co-operate with the inquiry.
He says while his former office prevents him from participating in a national inquiry, he could be able to answer questions if he's requested to do so by a committee of the European Parliament.
This could allow Mr Trichet to be questioned by the 11 Irish members of the European Parliament.
However, there is no immediate guarantee that Mr Trichet's evidence could legally be included in any inquiry findings, or that any evidence he presents would enjoy legal privilege.
Inquiry chairman Ciaran Lynch says those are significant concerns - and that he will now have to investigate whether it is possible for the inquiry to take evidence that is not presented within its own hearings.
But nonetheless he has welcomed today's development - saying it shows a clear opportunity for the inquiry to hear Mr Trichet's first-hand account of events.
"The priority here is that the information that the inquiry is seeking, when we arrive at that stage, will be facilitated and provided to the committee," he told Today FM this afternoon.
"What I would welcome is the indicated change in the position of the ECB, and I believe further work has to be done now to clarify and progress this."
