Oireachtas Joint and Select Committees
Thursday, 2 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
John Paul Phelan (Carlow-Kilkenny, Fine Gael)
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I want to turn, actually, to ... it's another core ... core document. It's a few of them, actually, Vol. 1, they're all Vol. 1. The evidence of Professor FitzGerald, which has already been referred to, the Nyberg report also. In the run up to the banking crisis there was multiple warnings given by the Central Bank - we've had witnesses from the Central Bank - the OECD, the IMF, the ESRI, Professor FitzGerald and others that, even in some cases, it was described as unlikely that there would be a hard landing.
But I want to ask you, really, to what extent did the range of possible outcomes discussed with you, as Minister for Finance ... that they were drawn up ... how did ... you know, these ... you know, potential for a hard landing was flagged by a number of these commentators and outside bodies - what plans were prepared to deal with each of those scenarios?