Oireachtas Joint and Select Committees

Thursday, 18 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

1:35 am

Mr. Rob Wright:

No. We did not delve into the advice on that. We did not expect to find advice on that. That warning perhaps overreached a little bit. That was where everybody, of all parties, put on the green jersey and pushed back very hard at the political level. There were real questions about the capacity for Ireland to adapt to the pressures that were building on the IT challenges of that period. It turns out that, in fact, there was a pretty full response to it, so it did seem to be overreaching. I would say that experience and the reaction probably moderated some of the advice you might have had from the European Union. However, I did not see the specific advice on that issue from the Department of Finance.