Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

And, Mr. O'Connell, going to your actual statement, right, it's ... there's quite a number of statements. You speak about, on page 2, that ... you say "In practice, it was my experience that any concerns or issues raised by staff for airing in the public arena were invariably watered down". You speak about that:

I had written, in a low key way for the Bank’s Comment[s] in its Quarterly Bulletin, that there was a need to consider the issue of rezoning ... land for building in order to increase housing supply ... an issue of continuing relevance at present. [This] was blocked from reaching a higher level in the Bank in the light, in my view, of political and property interests.

And then, on page 4, you speak about that ... you speak about that, that you said you were prevented from providing data. I was urged, you say, I ... you speak about that you were prevented from providing data in respect of housing data to the financial stability committee. So-----

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