Oireachtas Joint and Select Committees
Wednesday, 25 February 2015
Committee of Inquiry into the Banking Crisis
Context Phase
Professor Gregory Connor:
Economists bought into that although they knew that there were some problems, for instance, in the case of Greece. We all knew at the time that Greece would be a problematic member, given that there would be free capital flows into that country. That looked very problematic but we thought that Greece should be brought in, for political reasons. There was a trade off. Many economists kept their mouths shut and kept their doubts to themselves.