Oireachtas Joint and Select Committees
Wednesday, 29 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source
-----it's clear that some significant policy adjustments were needed from about 2001 onwards and it was exactly the beginning of 2001 that the Commission and the Council censured us for incorrectly using fiscal policy and for overheating the economy. And an article at the time from the RTE said, "Harney accuses European Commission of misjudging Irish economic situation." Now, obviously, you didn't choose the headline, but, in that article, you criticise Europe for not understanding actually the budget situation in Ireland at the time. So, on reflection, was the Council correct?
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