Michael McGrath (Cork South Central, Fianna Fail)
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So, going back to my first question, you state that the authorities, principally the ECB, now have adequate powers but can I ask you if the Central Bank has adequate resources and expertise available to it now to regulate the banks or to perform its regulatory functions in terms of the banks? And I do so in the context of The Irish Timesarticle this morning detailing some correspondence you had with the Department of Finance, albeit in relation to the insurance sector, but you raised some important issues in your letter to the Secretary General of the Department of Finance where you refer to a staff vacancy rate in the enforcement division was close to 40% due to Government pay restrictions. Would you like to comment on that?