Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Charlie McCreevy:

Yes, and I've said earlier in my statement, and other times as well, we disagreed entirely with the Commission's assessment at that time and less than one year later, the Commission lifted the reprimand because it turned out the Irish ... it turned out that actually, the stimulus that they were complaining about being given in my budget of 2001 was actually what was, could be deemed to be, anti-cyclical by the end of 2001 so they lifted the reprimand.

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