Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

Of course, I mean, we were ... our Government policies were predicated on a medium-term outlook of 3% or 4% growth in '08, and similar type growth going into the future. I mean, you know, all of ... all of the policies are predicated on certain assumptions. When those assumptions no longer hold you have to adapt and change your policy. That's what we did.

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