The Banking Inquiry's been told that it's not true to say 'we all partied' during the economic boom.
Banking expert Peter Nyberg says households didn't drive the crisis - although they did contribute towards it.
He's been giving evidence at the inquiry in its first public hearings at Leinster House this morning.
He says the banks helped to put themselves at risk by giving out so many small loans that customers wouldn't be able to repay:
Meanwhile, RTE News has reported that the European Commission has contacted the Banking Inquiry and stated that it is willing to provide witnesses to hearings.
Earlier it was reported that Mario Draghi had ruled out participating in the hearings.
It is not yet clear who they will send as a witness to the hearing.
