Ms Brenda McVeigh:

As I said earlier, it is difficult to do research on something that has so many unknowns. The draft directive as currently drafted is not clear on what is in and what is out or even the type of institution that is in or out. It has been difficult from the beginning, and the ESRI and Central Bank report highlighted that. It is very difficult to carry out any kind of analysis on the impact on Ireland or on any member state when there are so many unknowns in the directive.