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

I thank Professor Lane. To summarise some of the points touched on in his opening statement, he seems to suggest that even in the context of the eurozone the authorities in Ireland could have done much to stem the rising boom via prudent fiscal policy, a credit policy through the Central Bank and the Irish Financial Services Regulatory Authority and the suggestion of a rainy day fund. Following on from our engagement with Mr. Regling this morning and Professor Lane's opening comments, what is Professor Lane's view of the relationship between the Central Bank and the regulatory authority and the banks during the lead up to the crisis period?