Pearse Doherty (Donegal, Sinn Fein)
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It is free money. I have been critical but I understand where the Central Bank is. We have a job to do here to debate and agree policy while the Central Bank needs to stand off from it to a certain extent. However, Professor Philip Lane is on the record saying he would act if there was any evidence of a housing bubble or spiralling prices. Increases of €6,000 per month in Dublin over the past three months and €4,000 nationally are spiralling house prices in anybody’s book. How long would that trend have to continue for the Central Bank to intervene?