Professor Patrick Honohan:

I understand a decision has been taken to transfer the supervision of health insurance to the Central Bank and we have started the process of examining the firm. The pension fund issue is not being transferred, and some people have mentioned this. We are not in an empire building mode; we have quite a bit on our hands and we have expanded simply to deal with the large sector we already have. Nobody is happy, especially ourselves, in what we have been able to achieve so far in banking, which is the heart of the problem that has arisen. I take the points on board and it is certainly true that all the areas listed have problems which are being considered by the responsible authorities. Although I am not queuing up to do so, when everything else is sorted out we may take them on board.