Marc MacSharry (Fianna Fail) | Oireachtas source

Countries were not able, for example, to adjust their own interest rates, in that aspect of monetary policy. Given that there were no bears in the market, with the exception of Professor Taylor in Stanford and Professor Morgan Kelly in UCD, what pro-cyclical policies could a Government have implemented in 2006 to prevent this crisis? At that stage, if we had listened to the IMF or the Commission, what could we have done?