Oireachtas Joint and Select Committees

Thursday, 23 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Enda KennyEnda Kenny (Mayo, Fine Gael) | Oireachtas source

Well, we'd have implemented the propositions that Fine Gael have put forward and, obviously, a great deal has changed both at home and abroad in terms of bank and bank structures. Clearly, as I pointed out, Deputy O'Donnell, the situation where you had a seamless evolution from being in the Department of Finance to being in the Governorship of the Central Bank without any difference of opinion or allowing for that, that's all changed. And from 2002 right through to 2007, the warning signs were indicated by Fine Gael at every opportunity and particularly in respect of the budgetary contributions made by myself and by the spokesman at finance but, obviously, people made their choice in 2007 and, despite the fact, Deputy O'Donnell, that people knew and were well warned about the cracks that were appearing in the Irish economy, they made their choice and almost gave the Government of the day an overall majority. I suppose the situation so far as being populist is concerned is still around. But, clearly, we've learned lessons since then. If Fine Gael had been elected in 2007, it would have tried to rectify that position. I would have preferred if they had been re-elected back in 1997 and it wouldn't have arisen in the first place.

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