Oireachtas Joint and Select Committees

Wednesday, 25 February 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Professor Gregory Connor:

Those are small economies - even smaller than Ireland - and they saw a lot of German fund inflows despite the currency difference. The euro currency is not necessary for a financial bubble. An important feature of bubbles is that they are all different and, superficially, each looks different from the previous one. That is the nature of them because one prevents bubbles wherever one can, which means the next one will be something one did not think of.