Oireachtas Joint and Select Committees

Wednesday, 27 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael)
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Yes. And in terms of the ... the bank balance sheet growth from '01 to '08 for the main banks in the region ... year on year, 30% growth per annum, compound. And also the level of indebtedness of the ... the private sector in relation to GDP ratio. From the FSR reports and I'm ... I collated these figures, in 1995 the rate was 71% of GDP, for 2007 the rate of indebtedness ... personal indebtedness within the State in a 12-year period had reached a projected figure from the FSR report of '07 of 248% of GNP. That left the citizens of this country now the most indebted people within Europe. And you had... and you said a moment ago, Mr. Grimes, that you had the ... you had consolidated data per sector and prior to that I asked you about the-----