Professor Patrick Honohan:

You know, Deputy, the regulatory system is there, the supervisory system is there, it's been improved. Is the economy still an over-indebted economy? Yes. Are there many households over-indebted? Yes. Will their situation be worsened by various shocks? Yes. But this is the working out of a legacy indebtedness. These matters are known and largely understood, so I would say from the point of view of regulation and supervision, we have a sufficient grasp on the situation. Does that mean there could be ... will be no pressures? No, there will continue to be pressures in the work-out. Could there be another crisis, perhaps emerging from some other part of the financial system that we're not talking about on our agenda? You know, the ... yes, I am always concerned that the next crisis will come from where you're not expecting it. So, we have to supervise and regulate those sectors too and some of them are harder to supervise than the banking system.