Professor Patrick Honohan:

I think so. We will find that certain cases are not good enough, not sustainable and the policy of the bank is not right so it has to go back. We will be doing quite a lot of that. It is crunch time towards the end of the year and we will also reach a difficulty at the next stage after the proposals, which is called concludence. To be honest, the troika has got its teeth into this and states that the concludence must be soon and must be quick, which is probably good from one point of view, but I am nervous that the banks will not be able to get to that stage. There is quite a crunch of delivery and on the one hand I am in favour of the troika's pressure to get the maximum done, but then I worry the whole process might go off the rails. We must keep it on the rails.