Oireachtas Joint and Select Committees

Thursday, 18 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

3:55 am

Photo of Sean BarrettSean Barrett (Independent)
Link to this: Individually | In context | Oireachtas source

Adding to that, there was a massive flow of capital into Irish banks which then went into the property sector.

Does the model envisage the Minister for Finance having to say, "Because there has been a massive monetary stimulus to the economy, I have to run a huge budget surplus and I will be cutting down on education, health and welfare." How do we manage this?