Professor Philip Lane:

There are only two areas where we do not comply. Essentially, we consciously do not comply in those areas because of our responsibilities to deliver our mandate as an independent central bank and as part of the euro system. I agree with the Deputy: we consciously do not comply with the State salary levels. I emphasise that Central Bank staff accepted all the cuts relating to the Financial Emergency Measures in the Public Interest Act 2015, so that aspect of the public sector adjustment made during the crisis was completely implemented. We consciously make the decision that if we need to hire at certain rates in order to fulfil our mandate, we will do so. The other area where we do not comply relates to a relatively minor difference in the limit for public procurement. Again, the decision in that regard was made and the difference involved is not gigantic. On all other elements of the code, the aspiration is to comply. At this stage, my understanding is that all of the other points have been dealt with. It is not the case that-----