Professor Patrick Honohan:

While I could get into this area, I appeal to the Chairman to allow me not to because these matters will be discussed in great detail by the other committee in a very short period. I feel this matter is out of the scope of this committee and I am really rather reluctant to speak in a half-baked way without careful preparation and context. I could give answers but just do not believe it is the most fruitful way to proceed at present. Senator Byrne was particularly exercised over the question of the ECB. I went down that road to some extent but do not want to get lured further down it, if Deputy Murphy does not mind.