Professor Patrick Honohan:

Deputy Fleming asked about the new legislation and the question of this covering only the intermediaries. I would say that I regard that as a good first step. I am sure that if it is proven that controlling the intermediaries is insufficient, we can have a second bite at this. The intermediaries are the front end so I am very glad to see that done anyway.

Will I say something about quantitative easing or will I come back to it?