Professor Patrick Honohan:

They read my public statements and do not hear anything different behind closed doors. I do not interact with them on a weekly basis. That is not the way I work.

We must stand back and see that there are all sorts of strange consequences stemming from the legacy situation. The Deputy may state that standard variable rate mortgage holders are paying more than they would have had there not been a crisis, but tracker mortgage holders are paying a great deal less than they would have as well. The taxpayer is paying a great deal more, too. There are all sorts of winners and losers. I do not see the banks' shareholders, including the State, being big winners in this. Rather, I see the banks moving towards profitability.