Oireachtas Joint and Select Committees

Wednesday, 17 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom Considine:

It did and, as I said, an awful lot of our advice was formulated against that background of trying to restore competitiveness. And I mean, it is ... once you lose competitiveness, it is extremely difficult to get it back, because it's the totality of your costs and nobody wants ... people don't want to have their pay cut, they don't want to have, you know, a loss of income or whatever so it is not easy to reverse that.

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