Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom O'Connell:

Well ... sorry, we did the top-down ones and they were based on econometric models and, I mean, I wouldn't go as far as the former Governor who said "I don't believe in econometrics" but, you know, they're not perfect either. So, no, you didn't need stress tests to see that things were going bananas. It was obvious from the data.

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