Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Davitt:

In our pre-budget document of, I think it's 2006, I think it's the one it is ... I'm not 100% sure about it now but I could take it out of it but I think it's 2006 and it's one that you have there. We did say in that document, that we felt that the prices were changing and the prices were too high and it wasn't sustainable. And I think auctioneers and everybody in the marketplace was aware that the prices weren't sustainable because they had gone up an awful lot as you correctly say.