Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

As I said, it was very helpful of Mr. Nyberg to set out the six factors that are essential for a systemic financial crisis to occur. My question is whether, if households had no problems servicing their debts, we still would have had a systemic crisis given the concentration of lending on a small number of borrowers. There were 190 borrowers owing €62 billion between them. Some 50% of Anglo Irish Bank's loan book was accounted for by 20 individuals, while 51% of Irish Nationwide's book comprised loans to 25 individuals. If households had borrowed prudently and were able to service their debts, would a systemic crisis have nevertheless taken place?