Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

-----pastures. Can I ask you just a general question? You've mentioned the markets here on a number of occasions, and how the markets respond to this and that. And since the financial crisis surfaced, and then intensified, this is something that became virtually a daily routine. Every austerity cut, every cruel cut to social welfare, to pensions, to low paid public sector workers, etc., in every media outlet, virtually, the question put to economic pundits was: "Is this enough for the markets? Will the markets be satisfied with this? Will they be reassured? Will it convince them?"

Governor, do you think it's consistent with the principles of democracy and the democratic society that the financial markets which are huge financial institutions, hedge funds, etc. - unelected, unaccountable and faceless - that they wield such power over society and the lives of hundreds of millions of people? Is that consistent with democracy in how the European financial markets work?