Oireachtas Joint and Select Committees

Thursday, 14 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Richard Burrows:

You're asking the question to me. I don't believe so. I think the rate of growth was occasioned by the very fast economic growth in the markets in which we were participating, namely, in Ireland and in the UK. Where we got it wrong, of course, was that we were fuelling the growth of the balance sheet by over-reliance on wholesale funding and that was something that I referred to in my opening remarks.

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