Oireachtas Joint and Select Committees
Wednesday, 10 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Tom O'Connell:
Well, actually there were 25 economists - maybe 60 altogether say in the thing ... in the group. But, no, actually one of our ... two of our team went to Sweden to actually review their case at the time and I think there were some even simulation exercises which might have been done in conjunction with the Swedes. So, we tried to learn something from them. But, you know, my view, as I said in the opening statement, was that the ... the view ... or the implicit view amongst the senior people was that crashes elsewhere weren't relevant to Ireland. In fact, I know for a fact, if I may add, there was an IMF study done of one particular crisis which was handed to a senior person in the Central Bank and it was declined on the grounds that it wasn't relevant to Ireland.
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