Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

On Deputy Eoghan Murphy's final point regarding consensus and dissenting voices, that does not appear to be the view held at European level. Just last week the Bank of England released its minutes of a meeting of the committee of its non-executive directors on 15 October 2008, which stated, “Actions announced first by the Irish government and then the German government were both unclear and unco-ordinated and led effectively to a ‘beggar thy neighbour’ policy which froze the international banking system”. The minutes went on to state that while international co-ordination proved to be the route to a solution, the lack thereof also proved to be as much a trigger for the crisis as the failure of Lehman Brothers. Would Professor Honohan share that view or would he challenge it?