Mr. Edmund Honohan:

We are very small fry. The Irish investment market is very small fry from the New York perspective. If asked what is happening in Ireland, they simply say they will check with their Irish lawyers and so on. The Irish lawyers are always keen to advise them not to worry and to reassure them that they have the back of the Government and they do not have a problem. If something is proposed from Brussels, they are pretty sure the Irish Government will not jump that way, meaning they are the ones drafting the response. Unfortunately, that is just where we are at.