Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

The page numbers are page 9. I want to make reference, Chairman, to the draft report that was provided to the Department and then to the final report that was published. The draft report runs from page 9 to page 20 and the final report runs from page 23 up to page 37, but I've only two quick specific references. This report was ... the OECD came and did an on-site inspection on 20 February 2008 which was seven months before the night of the guarantee, per the report. They say on page 25, "The economic situation and policies were reviewed by the committee in February 2008 and they were approved then on 5 March 2008." The question I want to ask is there's wholesale changes within the two reports. The word "boom" suddenly becomes "buoyancy", which is a very different connotation. Two specific areas I want to look at are page 9 on the draft report, Chairman, which specifically deals with "financial stability risks remain". And the relevant page on the revision is page 26. Now that read, "financial stability risks remain"; when it came to the final report it went, "containing risk to the financial system" so they changed that. And there's one specific reference that I want to make reference to, Chairman. It says-----

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