Ms Deirdre O'Higgins:

I think that they are not looking at this in the context of Irish law, because a lot of what is in the proposed directive is fairly similar to what is in Irish law already, and it would appear that the drafters, in considering this, have looked at Irish law to a significant extent. They are looking significantly at countries that do not have that type of rescue mechanism. They want to ensure that all countries have rescue mechanisms and that the rescue mechanisms they have are broadly similar in order that a supplier in one country knows what to expect when trading into a different member state. That is the reason for European action in this area.