Professor Patrick Honohan:

I thank the Chairman.

I would like to pick up on some of the issues Deputy Eric Byrne raised. One of the questions he asked was about exiting from the programme. One year ago a couple of seemingly well informed people from abroad came to me and said we would not get out of this programme at the end of 2013 and that it was a joke. I said to wait and see. Now the mood is completely different. Why does mood matter? It matters because it is about the NTMA and Mr. John Corrigan and his colleagues selling Irish Government bonds to people who know they will be repaid. That is what has been happening because the Government has chosen a programme - one might not like it - to which it is sticking. That is what is giving credibility. At this point, it seems that exit on schedule is perfectly feasible; therefore, let us hope no great disturbances hit us from outer space. That is plan A. Of course, we can see how things go. There are more gradual ways of doing it, but for now that is the plan and it looks feasible.

The point Deputy Eric Byrne made about Cyprus is not coming to me.