Oireachtas Joint and Select Committees

Wednesday, 10 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom O'Connell:

Yes, although I wouldn't attach too much significance to a soft landing. I mean, I think in that third paragraph of the financial stability report which both Donal Donovan and Professor Gorecki put to me ... I think it was sort of said that the risks are increasing but they are manageable, you know. It means the same thing,. If they're manageable, we're looking ... we're looking at a soft landing. But I wouldn't attach too much significance to the particular words that were used and in a way, I mean, any Central Bank probably had to sort of say, ''Well, it will be all right on the night'', or words to that effect, you know.

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