Oireachtas Joint and Select Committees
Wednesday, 27 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Con Horan:
Well, I mean, obviously ... yes, because the measures were successfully introduced. From February 2006 onwards we began the process of intervening in the market. So it would have been very clear and we would've communicated that to all parties. People like the IMF supported those measures, etc., and the DSG would have known that we were proposing additional measures in September 2006. I had made it known to the industry in May 2006, which was three months after my appointment, that we were going to look at the commercial real estate sector at that point. So I was trying to send out a very clear signal that the process and the approach was changing.
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