Ciarán Lynch (Cork South Central, Labour)
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Professor Honohan has led me to my next question. As the process evolves, new modelling, solutions and resolution processes will inevitably arise. I am not suggesting that the subscribe list is written in stone and cannot be changed. The objective is to ensure resolution processes are based over the lifetime of the loan. Life is not like that. For example a person in his or her early thirties may not be able to service a mortgage at this point and so putting in place for him or her a 20-year process is not practical. A resolution process of one or two years may be a better approach. Does Professor Honohan see the prescriptions he is providing moving in this way, particularly for young couples or people who are in the early years of their mortgage and may be able to get back into employment?