Oireachtas Joint and Select Committees

Wednesday, 11 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

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

I will bring matters to a conclusion. The task of this inquiry is not just to examine the past and identify system failures or problems or discuss probabilities during that time but also to look to the future and ensure future modelling of financial assessments and risk are better dealt with. What lessons about modelling and forecasting in the Irish economy can be learned from the crisis? What assessment have the ESRI and Department of Finance made of these areas in recent years? Would Professor FitzGerald recommend anything else to the committee?

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