Oireachtas Joint and Select Committees

Thursday, 18 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

3:15 am

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

I want to ask him Mr. Wright about the expertise in the Department. He called for a good deal of engagement with the private sector on various matters in his report.

He indicates that there was a reluctance by the Department to second guess the Central Bank if advices were coming in and so on. To what extent does Mr. Wright believe that the lack of internal expertise within the Department on banking, with only 39 economists and so forth, allowed the bankers to have overdue influence over it when it came to banking regulation?

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