Joe Higgins (Dublin West, Socialist Party)
Link to this: Individually | In context | Oireachtas source

I understand. At the same time, however, the credit extended by Irish banks was going through the roof and was being financed by massive loans from European banks. A witness from the United States, Professor Black, said that when banks are growing by approximately 20% year-on-year, all kinds of red lights should start flashing that the loans are not sustainable. How could the EU Commission miss that indicator as well in the bubble or pre-crisis period?