Professor John FitzGerald:

I tried to talk to one of my colleagues last night on this and I may be wrong in the timing, but I think the way the quarterly economic commentary worked, there would be a review meeting where all staff would express comments and then there would be specific people who also read it independently. There may have been a discussion about the problems in Anglo Irish Bank but what I do know is that the 2008 summer quarterly called a recession and I think the Department was not that happy with the use of that phrase. However, we were probably much too mild in the use of it.