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Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Did you read that document at that time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: The title of the document - this was furnished to you about two weeks ago so I asked for it to be provided before you came in today - it is a top secret memorandum for Government, Economic and Budgetary Strategy 2004 to 2006, 19 June 2003.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Okay. Reading that line, which is quite significant, it says, "The period of exceptional economic growth enjoyed by Ireland is over." Was that an indication to you that budgetary policy and budgetary expenditure would have to take a change of course?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: I assume that a lot of people have regular lives, Mr. Ahern, and yourself is no different and you're not watching this inquiry every day of the week, even though it is a bad summer, but the people who have come in and testified here such as Mr. Nyberg and Mr. Wright, Mr. Regling and so forth have stated that the difficulty had grown beyond return in and around 2005 or so, which would, kind...

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: And citizens.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Well, do you concur with their view because they have looked at it and you can then give us your view then?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Yes, you can, indeed, yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Okay, thank you very much, Mr. Ahern. Deputy Pearse Doherty, you've 25 minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: I'll ... I'll afford you a bit of time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Question now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: You have to move on. Careful.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: All right, just let the Deputy finish and I'll bring you in then, Mr. Ahern.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Deputy Doherty.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Finish your question, Deputy, and then I'm moving on.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Quickly now, Deputy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Thank you, Deputy. I'll bring you in to wrap up again. Deputy Eoghan Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Which Minister is this?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: Could you elaborate on that level of uncertainty?

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: We just allowed a bit of time for that. Back to yourself, Deputy Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (16 Jul 2015)

Ciarán Lynch: I'll just venture in quickly and if I can-----

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