Oireachtas Joint and Select Committees
Wednesday, 17 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Tom Considine:
Yeah, but, and I suppose in relation to the experience in 2001 and 2002, when tax revenue fell off, it was apparent - and it was frequently referred to - that this would ... this would be a consequence. And it depended on, you know, how much of a fall ... but there was nobody predicting the kind of economic shock that actually transpired.