Eoghan Murphy (Dublin South East, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I suppose international events exacerbated the speed and severity of the crisis. In his report Mr. Nyberg states the main reason for the crisis in Ireland was the unhindered expansion of the property bubble financed by the banks using wholesale market funding. A lot of space in his report is dedicated to the wholesale market funding. Could he please explain that point on wholesale market funding briefly, in layman’s terms, and how it marked a change in how the banks did business and whether there were dangers in this?