Mr. Justice John Hedigan:

That is a very interesting question and I have thought an awful lot about it. Culture and ethical conduct are matters that are difficult to identify, difficult to strive for and difficult to achieve, maintain and monitor. Doing the best that we can, it seems to me that if we can achieve openness, transparency and fair outcomes for customers we will be achieving success. I honestly do not know at this stage to what extent we have to go in that direction in order to achieve success. We are starting off a completely new project. As I said, nothing like this has ever been established in Ireland before. We are feeling our way. We are going to learn to walk before we run but that does not mean that we are not going to be ambitious. Our work programme might show that. If anything, it might be called over-ambitious.