Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Just to take Professor Ahearne on to the link between the property price crash and the impact on the banking system, was that link fully understood in the years leading up to the crisis? Was it understood that the risks that were being built up through dramatic property price increases could potentially have a major impact on the banks and the banking system? Does he think that was sufficiently understood by the authorities?