Mr. Charlie McCreevy:

But you see, Deputy, in 2001, if you refer to when a hard landing occurring, okay, we'll say a hard landing occurred in 2008, 2009. This is maybe a decade before the hard landing took place and I noted that in subsequent Central Bank reports and in subsequent ESRI reports, as late as 2006 and 2007 and 2008, they were predicting a hard landing was not going to occur at all. So they were considerably wrong, in 2001 and 2002, because a hard landing certainly didn't occur in my time in office; in fact they changed their minds later in the decade and then it turned out there was a hard landing.