Oireachtas Joint and Select Committees

Thursday, 16 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Bertie Ahern:

Well, I wanted to ... Deputy, I wanted to see it slow down. I had broken my back from 1997 to try to get the supply side ... when I came in as Taoiseach, there was, in the Central Bank's terms, a bubble, or at least shortly afterwards. We had moved from building 20,000 houses in 1990 to 42,000 houses when I came into office. It was believed at that time by all the experts that we needed to get to 50,000 to take the heat out of the market. Everything we did, and the Bacon reports and all of the other efforts that were made, were all to try and get supply up and we believed that if we got supply up, we'd get an equilibrium that would balance the situation-----

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