Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

My final question in the limited time available to me is on the proposal for a mortgage indemnity guarantee or mortgage insurance. What role could it play in meeting part of the minimum deposit requirement that is being set out by the Central Bank? As soon as the Governor made his proposals public, the Government seemed to float the idea of the mortgage indemnity guarantee, perhaps as a way of circumventing the rules. How does Professor Honohan feel about that? Can such a guarantee play a role in meeting the minimum deposit requirement?