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

Just to put a framework on what Deputy Murphy has been saying, in his earlier engagement with this inquiry, Rob Wright spoke about the information loop that should be in place between the Department of Finance, the Government of the day and maybe the Central Bank and other agencies. He said such a loop will provide a voice to take either pro-cyclical or counter-cyclical decisions on the economy in terms of over-heating or relaxing it and so forth. Given your engagement with Deputy Murphy, Professor FitzGerald, do you believe that information loop was effectively working during the period of, say, 1999 to 2006?