Professor Gregory Connor:

Yes, more than most. All of the central banks made errors at that time and they all probably regret some of their actions. Across Europe, the second worst central bank in terms of responses to the credit bubble was Ireland's. Only the Icelandic central bank had worse prudential oversight during that period. The Spanish, Portuguese and Italian central banks obviously did not have the same enthusiasm as Ireland in the Celtic tiger but their behaviour was more modestly risky, whereas Ireland's was excessively risky. It was quite a bit worse than average. This was in the spirit of the times, and more. It took the spirit of the times and ran with it.