Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Thank you very much, Chair. Good afternoon, Mr. Gray. Just if I can take you to that letter of 25 September '08 addressed to Mr. Kevin Cardiff, and you have spoken about this at length so we should be able to get through these questions quite quickly. There weren't any terms of reference for that paper, I think you've confirmed that. It was your own initiative following the discussion that you had just attended at the Central Bank meeting. Can you outline the supporting evidence and analysis you placed the greatest emphasis on when preparing this or what documents did you have regard to or was it just from your own mind that you prepared this paper?