Oireachtas Joint and Select Committees
Wednesday, 21 January 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. Klaus Regling:
In this context, distortion really means being in favour of real estate and property, because we see the tax exemptions and the possibility at the time to deduct interest rates on mortgages. All these things that promoted, from the fiscal and tax sides, moving in the wrong direction and fuelling the bubble led to the distortions.
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