Oireachtas Joint and Select Committees
Thursday, 2 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
So in response to the earlier question with the appointment you had a familiarity with some of them and less of a familiarity with the others but it was based upon expertise rather than position and so forth.
This brings me back to the question that Deputy McGrath was asking you, which was the sort of paradox that was taking place in the financial stability reports coming out of the Central Bank, and it wasn't just Mr. Patterson, I think, Mr. Neary, and others spoke about how the financial stability report was not the exact reflection and depiction of what was actually happening, and the word "spooking the horses" was raised, I think with Mr. Patterson and Mr. Neary. I think Mr. Neary actually coined the phrase as well, when he was inside here. And given your familiarity with the personalities that you had appointed to this board, were you aware of that paradox?
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