Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Go raibh maith agat, a Cathaoirligh agus fáilte romhat, tUasal O'Connell. Can I ask you first, after the 2004 we had the IMF, the OECD and ECOFIN all clearly recommended a tighter fiscal stance, and the building of a "cushion" for the time when income from property-related transactions would fall. Can you tell us why, in your opinion, the Central Bank's recommendations to the Minister did not more forcibly alert the Minister to this issue?

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