Professor Patrick Honohan:

Mr. Trichet is retired from the ECB. This matter has not been discussed at the governing council at all. He pointed out that when parliamentary committees and so on want to know about central bank issues, they look for information from the national central bank governor. In Ireland's case, that is me. If there is such an inquiry and the ECB is called, I presume the Governing Council will ask me to represent the ECB point of view, but that will only be a small part of my evidence.