Oireachtas Joint and Select Committees
Wednesday, 31 October 2012
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Operations and Functioning of IBRC: Discussion
12:30 pm
Mr. Mike Aynsley:
Unfortunately, it is difficult to consider only one aspect of it in isolation, because there are so many interrelated factors. For example, when the promissory note was put in place, assumptions were made about the wind-down of the portfolio in the context of the macroeconomic assessment at that time. The eurozone had not deteriorated as far as it has since, there was the uncertainty regarding the property market and-----
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