Oireachtas Joint and Select Committees
Thursday, 18 December 2014
Committee of Inquiry into the Banking Crisis
Context Phase
3:55 am
Sean Barrett (Independent)
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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?