Oireachtas Joint and Select Committees

Wednesday, 11 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Professor David Farrell:

It is very hard to give an answer. I know where your question is coming from and can appreciate that. In any parliamentary system, one would like to think that if there is something going on that needs to be investigated and tracked and warning signals to be sent up, in an effective parliamentary democracy, that will happen, there will be those warning signs. We did not have it and beyond that, it is very hard to speculate. I can appreciate that perhaps the ideological composition of the Parliament might also contribute somewhat. The ideological composition of Parliament across the main parties might be skewed in a certain direction that might facilitate certain activities that were unfortunate.

It is very difficult to get a grip on the extent to which it was contributing to the problem.

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