Oireachtas Joint and Select Committees

Wednesday, 22 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Fergus Murphy:

-----square that off for you. The backdrop was set internationally. We are responsible for our own economies. So I believe Mr. Nyberg is right because if you take, for example, the Canadian economy, it was also an international economy and it didn't let happen locally what happened in Ireland, but the crisis and the effect and the scale of the crisis in Ireland, wouldn't have been to the magnitude it was and it eventuated had there not been that international piece. We are responsible for our economy. I would agree with Mr. Nyberg that the crisis, as it eventuated in Ireland versus the way the crisis eventuated, for example, in Canada or Australia, is absolutely our fault.

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