Oireachtas Joint and Select Committees
Thursday, 26 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Terrence McDonough:
Absolutely. To be fair to my colleagues, there is a trend to be more serious about the financial sector. The models used to model the Irish economy did not include the financial sector because it was thought that money was simply a veil and not a very important institution and, as an institution, a source of instability.
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