Susan O'Keeffe (Labour) | Oireachtas source

Well, in the Nyberg report, on page 60, it says, ''it is safe to say that vigilant authorities should have been much more concerned by the end of 2005'', and then it goes on:

By the end of 2005, on a reasonable assessment, the authorities should have been sufficiently concerned about the emergence of a property bubble to consider aggressive action to deflate it: new house prices had increased by 40% since 2002; property-related lending in relation to GDP was double that of the UK ... and proportionate to population, house completions were six times higher in Ireland than in the UK. 12% of the Irish working population was employed in construction and construction output accounted for 20% of Ireland’s GDP.

Notwithstanding what you have said about the concerns about needing to keep people in employment and so on, their assessment ... this assessment is that by the end of 2005, vigilant authorities should have done more and should have been more concerned. Were you ... were you concerned at all?