Cowen admits ‘soft landing’ idea not based on evidence

The infamous “soft landing” prediction for the stumbling Irish economy was not based on any specific analysis or internal Department of Finance reports.

Former taoiseach Brian Cowen admitted the lack of hard evidence on the highly controversial view at the first of two bank inquiry grillings yesterday.

Speaking in an afternoon session focussing specifically on the year before he became taoiseach in May 2008 – before a separate meeting next Wednesday addresses the September 2008 guarantee and November 2010 bailout – Mr Cowen said the soft landing view was widely held.