Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I just want to pick up ... go raibh maith agat, a Chathaoirligh, agus fáilte roimh an tUasal. I just want to pick up on that point because we've been hearing evidence from different agencies, the Department of Finance as well, and your own evidence, and from the ESRI, the Central Bank. Can you explain to me this ... because we've heard a lot of people say, well, in terms of the soft landing or in terms of that consensus view, that, "Well, the Department of Finance said it." And then the Department of Finance say, "Well, the IMF were saying it," and the IMF don't do their own analysis so they're saying, "Well, the Central Bank were saying it." The Central Bank will tell us, "The Department of Finance were saying it."

So, where did this originate from? Did it come from on high and everybody just started passing the parcel, or was there original work done within the Department of Finance that concluded that there was a soft landing was what was going to happen?

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