Martin Mansergh (Tipperary South, Fianna Fail)

Therefore, the notion that everybody could see that we were heading for the rocks is false. International experts did not predict anything of the sort. There is no basis for such claims. The achievements of the Irish economy were admired for years. One cannot expect, any more than on the hurling field, to be at the top forever. From time to time, there will be setbacks. The economic cycle has finally hit us.