Oireachtas Joint and Select Committees
Wednesday, 4 March 2015
Committee of Inquiry into the Banking Crisis
Context Phase
John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source
I want to refer to chapter 1 of the book, Brian Lenihan: In Calm and Crisis, which quotes Professor Ahearne as saying that a lethal expansion in credit had occurred due to borrowing by the Irish banks. Will the professor elaborate briefly on what he meant by "a lethal expansion". When does he believe that expansion became lethal? Can he put an approximate time on that?
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