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Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: -----one second, Mr. Cowen.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: You can't be putting words into a witness's mouth.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: And that's not even acceptable. An "or not", please, that doesn't cure it. So, Deputy, I don't want a rematch of last week, so if we can maybe play straight down the middle, please?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Sorry, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: All right, Mr. Cowen and-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Mr. Cowen, I just don't want to be getting into area of repetition on the same kind of question line. Deputy O'Donnell, is that it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Thank you. If I could maybe just ask you one question there, Mr. Cowen, and then I'll move on. Did you, as Taoiseach, receive any warnings or analysis in 2008 from officials either in the Department of the Taoiseach or the Department of Finance of overheating in the construction sector or of a housing bubble, and, if so, what form did that actually take? Was there ... I know we were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: What timeframe are we talking about here now, Mr. Cowen?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: What timeframe are you talking about these measures being put in place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Okay. So fiscal taxes, stamp duties, VAT returns that would have been coming out of the construction sector and their margin and percentage of what was your annual income of that time, the longevity and how long these would be sustained into the future were not being discussed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Right, thank you. Senator Marc D'Arcy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Sorry, my apologies. Marc MacSharry, excuse me. My apologies.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Thank you very much, Senator. Senator Michael D'Arcy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Can you give Mr. Cowen, somebody give him that document there? Okay, okay. Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Last question now, Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: If you're happy Senator, I'm moving on. I'm moving on. Sorry, Mr. Cowen.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Eoghan Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Deputy Eoghan Murphy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Following on from where Deputy Murphy actually is on this, which Mr. Cowen, and it's just going back to your own opening statement, reference point 293 in it, where you're on about the analysis in consideration of the response to contrarian views, internal, external and so forth. And in line 293 you said "Taking all perspectives into consideration when the present was hard to assess and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

Ciarán Lynch: Deputy Murphy referred to a document there, it was on your screen a moment ago Mr. Cowen, a confidential financial stability issues scoping paper. This document would appear to have been prepared for 24 January 2008. Are you familiar with this document?

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