Stephen Donnelly (Wicklow, Independent)
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That is well in theory but that is not what is happening on the ground. What is happening on the ground is that the banks are coming in with their financial, legal and procedural expertise and they are more or less bullying these borrowers into solutions, although not in every case and not in every bank. I believe a level of leniency is being allowed by the Central Bank which has resulted in at least one chief executive coming in here with an attitude that the bank can do pretty much what it wants, that it can squeeze people, and the more it squeezes people the more its share price goes up, which it believe is a good outcome. Professor Honohan appears to be comfortable allowing that to happen.