Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

I'm reading ... I'm reading from the broad ... I'm reading from what the ... what the Governor has had to say. He says, ''To conclude, the public finances ...'', this is 2006:

To conclude, the public finances are in a very healthy position, with another general Government surplus in prospect this year, coupled with the second lowest debt the GDP ratio in the euro area. Following the slowdown in 2001-2002, the economy has recovered strongly and has grown at a more sustainable level over the last few years. The fact that unemployment has remained about at 4.5% is testimony to the success of the economy and the Government's management of the public finances.

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