Oireachtas Joint and Select Committees
Wednesday, 24 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. William Beausang:
I mean, from my experience, Deputy, there was a lot of contrarian views in the Department of Finance on a whole range of issues. I mean, you know, in terms of what the Department ultimately has to do, which is advise Minister and advise Government, that works through the hierarchy, the management system, and those views are then represented, or those options are then represented, to the Minister. I mean, in terms of my area of responsibilities in the Department, I'd no direct interaction with any individual in the Department, or, indeed, in the Central Bank or the Financial Regulator, that was articulating strongly very contrarian views around where the banking system was or where the economy was, more generally. But, I mean, in terms of my responsibilities, my focus was very much on financial regulation and the stability of the banks rather than the broader macroeconomic framework, which was the responsibility of another area of the Department.
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