Michael D'Arcy (Fine Gael) | Oireachtas source

You knew the risks, you itemised the risks in the financial stability reports from '04, '05, '06 and '07. But you ... what you said was you did not foresee ... sorry ... "The Bank emphasized downside risks to the banking sector but it did not foresee the dramatic consequences that flowed from the interaction of the international financial crisis with our domestic vulnerabilities." The international financial crisis was outside of your control, but the domestic vulnerabilities were clearly outlined in your FSR reports and you chose not to impact upon those.