Oireachtas Joint and Select Committees

Wednesday, 22 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. David Begg:

Well, I spoke about it not just inside the Central Bank but in the National Economic and Social Council and very publicly and I've given you the evidence of that, where I said that, "Look, this level of growth in the economy is, in the longer term, likely to be damaging." We would have been better to have tried to adjust the economy to grow to maybe twice the European Union average, which would have been around 3% or so, because, in the long term anyway, we were outpacing the capacity of our infrastructure to meet some of these requirements and, in fact, people ... you know, it affected my own family, people were moving 50 and 60 miles away-----

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