Ms Brenda McVeigh:

I am trying to be straight. As I said, we are still in the negotiating phase and all member states are feeling this pain. Fingers have been so badly burned, by various money laundering scandals and the collapse of the financial system several years ago, that the risk appetite is very low. I can speak only about financial institutions but this applies across the board and is not just about banks. The risk appetite is now so low, and banks have to take their own decisions in regard to the customers and business relationships they will take on, that they will not take a lot of risk on it.