Oireachtas Joint and Select Committees
Wednesday, 17 December 2014
Committee of Inquiry into the Banking Crisis
Context Phase
Mr. Peter Nyberg:
That is something we never thought about because it would have meant our having to imagine a world which never existed and, I suspect, never really could have existed. If there is a systemic crisis, it really means that everybody is involved, including households. This does not imply that it is households which cause the crisis, but they are involved. They possibly and usually inadvertently tag along and make things worse.