Oireachtas Joint and Select Committees

Wednesday, 17 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Tom Considine:

I accept that the cyclically-adjusted ... that the approach to calculating cyclically-adjusted deficits or surpluses wasn't robust enough but the reality of it is that you have to recognise that in the spring of 2006, you had the EU Commission applauding Ireland for the way it was managing its public finances. So, this is all with the benefit of hindsight, people are ... you know ... are doing these exercises and, I think-----