Friday, November 11, 2011

'Human error' blamed for €3.6bn mistake

RTE News Ireland 2 November 2011

Minister for Finance Michael Noonan has said the mistake in the national accounts of €3.6bn was down to "human error". He explained in the Dáil that the double count arose because the Housing Finance Agency had borrowed directly from the NTMA instead of from the open market in 2010.

The miscalculation was described as "a humiliating schoolboy error".

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