Oireachtas Joint and Select Committees
Wednesday, 21 January 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Joe Higgins (Dublin West, Socialist Party) | Oireachtas source
The key question relates to Europe, the euro area and Ireland. Why were countless billions of euro and dollars cascading around the financial markets in this way and why were so many exotic products developed? Why was the money in question not invested in manufacturing, for example, particularly in view of the fact that 25 million people in the European Union were unemployed? Why were billions poured into property speculation in Ireland at a time when, by common consent, broadband infrastructure and water infrastructure were in desperate need of investment?
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