Professor Patrick Honohan:

It was perfectly legitimate given that my report was supposed to be on the regulatory structure, not the Department of Finance. The point is that it is perfectly possible for the Deputy to put me in a position where I look as if I do not know anything about anything because I speak very carelessly. The Deputy asked me a question on the spot and I answered it as I remembered it at the time. When Mr. Doyle pulled me up, I said I was not sure.