Oireachtas Joint and Select Committees
Wednesday, 11 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Ciarán Lynch (Cork South Central, Labour)
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I will bring matters to a conclusion. The task of this inquiry is not just to examine the past and identify system failures or problems or discuss probabilities during that time but also to look to the future and ensure future modelling of financial assessments and risk are better dealt with. What lessons about modelling and forecasting in the Irish economy can be learned from the crisis? What assessment have the ESRI and Department of Finance made of these areas in recent years? Would Professor FitzGerald recommend anything else to the committee?