Professor Patrick Honohan:

The process has still not moved far enough. The Deputy has data up until the end of June and he is correct in that there is very little evidence of longer-term solutions. I have access to the ground, although the Deputy has better access to some parts of it, but from what I hear, the approach of banks has been shifting quite sharply over the past few months. They have realised that the approach to the challenge must be changed. I think they are moving in that direction.