Professor Philip Lane:

This is a valid issue to raise but the Central Bank operates under the framework given to us through the legislation. The Central Bank can always stand ready to give advice to the legislators. When asked what are the pros and cons of expanding the remit from €3 million to some higher number, this must be a politically led debate. We do, however, stand ready to advise the Government on the pros and cons of making the decision. We do this a lot with regard to EU regulation.