Oireachtas Joint and Select Committees

Thursday, 26 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Mr. Gerry O'Regan:

No. I do not know who wrote that piece but I think he or she was making a reasonable assumption that if somebody breaks party ranks - in fairness Morgan Kelly broke ranks with the economic conventional thinking of the time and in many ways has to be admired for it - his colleagues in the overall academic fraternity may not have been overly enthusiastic about his views. One of the issues at that point in time was that the overall academic economic entity in the Republic of Ireland was, broadly speaking, unified in a view that did not chime with Professor Kelly's views. That is why we are speaking about him. To an extent he was a lone wolf and he is to be admired for having the courage of his convictions in speaking out.

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