Marc MacSharry (Fianna Fail) | Oireachtas source

In his witness statement, Patrick Honohan states:

One of the measures pressed on the Irish authorities by the troika was the merger of Anglo with INBS and that of EBS and AIB. From my perspective this measure served no strategic purpose. It seemed largely a pointless cosmetic exercise.

Could you comment on that statement, and these mergers, and his view that they were a pointless cosmetic exercise?