Michael D'Arcy (Fine Gael) | Oireachtas source

Can I just move on, Mr. Beausang, as well, please? The DSG compromised a group of experienced officials. How did the group fail to conclude that a serious banking crisis was on the rise and given the ... the following indicators?

The financial markets were warning from mid-2007 about the Irish loan book concentrations. The reduced availability of liquidity to the financial institutions from late 2007 and the comments of the health of the Irish banks contradicted market sentiment. Market sentiment was quite clear in terms of, in particular, Anglo and INBS, that their loan books were in a very poor state. How did the DSG not predict the extent of which there was a serious problem coming down the tracks?