Oireachtas Joint and Select Committees
Thursday, 10 September 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Mr. Chopra, we know that during the period of the implementation of the plan ... and you mention yourself, for example, that the plan didn't achieve the Government entering the markets on time, as it was expected, that the bank recapitalisation was in excess of what was initially expected, but a buffer was there. And also, the growth rates over the period of the implementation of the plan didn't materialise and the country went into a double-dip recession. You've also been critical of the austerity-only option in the plan. The austerity-only option, was that ... did that hamper Ireland's recovery and deepen some of the impacts that may not have needed to be taken in terms of other options which were bondholders or stimulus to try and stimulate demand?
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