Oireachtas Joint and Select Committees
Wednesday, 4 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
I thank Professor Alan Ahearne for his opening remarks. Perhaps I can deal with two matters before I move to the lead questioners. This relates to pre the crisis of property and the banks. As discussed in his opening statement, in a newspaper article in October 2005, Professor Alan Ahearne warned of the likelihood of a hard landing in the Irish property sector where he cited evidence from research he conducted with former colleagues of his at the US Fed board. Did Professor Ahearne get an opportunity to present or discuss this research with officials at either the Central Bank or the Department of Finance and, more generally, did he get any feedback on this research from Government officials?
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