Mr. Niall O'Donnellan:

In fairness, progress has been made. There is much greater awareness, particularly at the centre of the banks, of the issue and the major opportunity it presents for Irish banks. Central contact and liaison teams have been established in the banks. In addition, our CEO meets the CEOs of all three major banks every six months which has helped stimulate and push forward the agenda. Progress has been made but the shared view among clients, banks and ourselves is that there is certainly a lot of ground to be made up. We are still not where we need to be from the broader perspective of being a small, open exporting economy.