Dr. Donal Donovan:

I think Deputy Creighton’s description of this as hazy is correct. There is only one record of this which was issued after the decision which was some time ago. Based on recent reports, it could be that there has been some evolution or divergence in thinking in the upper echelons of the ECB.

This is not entirely clear based on the reports one heard and these included subsequently a very specific restatement by the vice president of the ECB, Mr. Rasmussen, reiterating the original piece of paper. As Professor McHale says, all we have is a piece of paper and that is all one can go on unless and until something new happens.