Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Mr. Hurley, with respect, I am asking you not what ... what you said in your reports at that time. I'm asking you for your view today, which ... you've expressed your view that the financial stability of the system was sound up until the period of 2008. And again, financial stability in ... and it's in the memorandum of understanding in Vol. 1: "A financial stability matter may include but would not be restricted to any event which could threaten the stability of an important financial institution or a number of institutions. " So how could you ... how can you say that the financial stability was sound today, right up until 2008 when we know of the ... of some of the evidence in terms of concentration of lending, exclusive lending to property sectors by some financial institutions, unenforceable ability of collateral in large numbers by certain institutions and all of what we has flowed from the years 2008 that the public are aware of? How do you make that statement? How do you convince this committee that, even today, the financial stability, which is the individual institutions as well as in the memorandum of understanding, were sound at that period?