Oireachtas Joint and Select Committees

Thursday, 21 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Marc MacSharryMarc MacSharry (Fianna Fail) | Oireachtas source

You mentioned in your statement that, "Attempts to influence the flow of external funds into Ireland would have amounted to capital controls which would have been inconsistent with monetary union." That's on page 7 of your statement. So, when interest rates were at 2% and growth rates were at 5%, 6%, 7%, 8% here, did you ever say, for example, in the ECB, ''Look, we need interest rates to be much lower for us''?

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