Professor Patrick Honohan:

I think that is correct. We have to be completely prepared to say that we have found a mixed bag and that we told banks to go back because a part of their policy is not working and it is not right. If we do not do that, the process is ineffective. If I come to this committee in a few months time and say that we had to fail this amount and that amount, I suppose I will be criticised that I did not set up sufficiently clear targets. It is a complicated process. We are not prepared to allow policies that are not-----