If we don't learn the lessons then we'll be laughed at again
At a time when the public was being told the economy was going through an "impressively soft landing" at the tail end of the Celtic Tiger era, the view on the international markets was decidedly different. The latest Anglo Tapes reveal the Irish banks and economy were being "laughed at" by the international financial community at the end of 2007.
The view abroad was the Irish were "clubbing together" and were "in denial" about the fundamentals of the economy, banks and property market.
The suspicions about the status of Anglo Irish Bank were rightly circulating as "whispers" on the markets.