Oireachtas Joint and Select Committees

Thursday, 2 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brian Cowen:

Yes. There was a memo for Government brought to the Cabinet. I mean, the individual Ministers, in this case myself, this was work that we were engaged in. From the time the IFSC was born, it was a relatively new baby - it only came in in the late '80s ... one of the reasons for its success was the fact that there was this ... for a small country, what you expect, a co-operative approach between industry and Government to facilitate investment in an area such as this that would provide good jobs, good remuneration jobs and also good revenue for the country in the future.

And I think that, you know, that co-operative idea, which is part of what, I think, is some of the best parts of social partnership - the idea that people who have a stake in this society, and not just in relation to financial services, but in relation to areas generally, that the issue for working people's interests isn't just about, you know, narrow wage considerations, it's about wider issues where they have a say in education policy and ... it's all about consulting people where they have an expertise, to get the job done in a way that puts us in a good position to compete.