Oireachtas Joint and Select Committees

Thursday, 18 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour)
Link to this: Individually | In context | Oireachtas source

And I come from Cork, which probably makes me even harder to understand. The term "pro-cyclical fiscal policy" arises a number of times in the report. In layman's terms and because people are viewing these proceedings, could Mr. Wright explain what it means?