Dr. Munir Nuseibah:

It is very significant. I read this questioning and heard that quote from the questioning. It was clear from the testimony of Mr. Makhlouf that he understands his mission as very technical, whereby it only deals with securing the risks for returning the money and the financial risk associated with the bonds, and nothing else. He said that in many different ways while answering different questions. It was important testimony for the Irish Legislature to consider. At the end of the day, I believe this is true. That is exactly what he is saying. He sees his role and that of the bank as technical, without looking into the legal framework that Ireland as a state is bound by through international law, including treaties, customs, etc. It means that in the work of the Central Bank, Ireland can be held liable only because the Central Bank does not understand or consider the full legal framework that binds Ireland. The Central Bank is an organ of the State. It is not independent.