Mr. Ed Sibley:

The Governor has been clear previously and I have been clear in my opening statement. If powers are conferred on us by the Oireachtas, then we have a duty to use those powers and to deliver the mandate given to us. We have deep reservations about the Bill for the reasons we have outlined, not because of the objectives but because of concern over whether it will be effective and the potential side effects or unintended consequences. However, if the Bill is passed, then it is of course an instruction or additional mandate for the Central Bank.