Oireachtas Joint and Select Committees
Wednesday, 17 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. David Doyle:
Well, your recession could be X quarters with a negative growth. What I'm saying is, if you look at, at what was ... what the debt position was, it was one of the lowest in Europe, at 25% of output. That was the general government debt, and the surplus ... there was a surplus of €5 billion, 3%. There's that point of view, that the Government came into the 2007-8 period from a position of recent financial strength. So there, there was no evidence that ... at that time, that you were facing a major-----
No comments