Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Ms Cathy Herbert:

Yes well the outcome was that they ... that was the meeting where ... it was the first of a series of meetings where it was indicated that they wanted to see greater savings, they wanted a budget to be brought ... the amount to be saved in the 2011 budget to be larger. So with the amount kept under ... I think it started at seven and it came down to ... maybe eight actually and it came down to six. So there was ... it was general discussion. And obviously a discussion on ... there was a constant debate over forecasts. The bank ... or, at least, the Commission thought our forecasts were too ... the Department's forecasts were too benign.

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