The head of the Eurozone's bailout fund says Ireland was hit by a "perfect storm" where regulators and politicians all failed to stop the crisis.
Klaus Regling says politicians, economists and even the Troika itself all failed to stop the crisis from taking hold.
However, he's also told the Oireachtas banking inquiry that the Troika's intervention in Ireland was necessary to save the Eurozone.
Mr Regling is giving evidence this morning at the Oireachtas Banking Inquiry and explained that "policies could have moderated the boom and cushioned the recession."
He says the Government could have ensured a soft landing for the property market - but missed its chance:
Chairperson of the Banking Inquiry Ciaran Lynch, explains why Mr Regling's study is being examined:
