Mr. Justice John Hedigan:

The Irish Banking Culture Board has no power of sanction and it has no teeth. We do not want it to have any teeth. Our job is to work with the banks and essentially to move hearts and minds. That is the role of this board. It is a unique body and nothing like it has ever been set up before. It is the way culture is being embedded in the banking system around the globe. Trying to work with the banks is the approach being adopted. This is why I said that we plan to be a critical friend. This was a phrase that came from one of our workshops. One of the people who had a lot of problems with the banks and who wanted something to happen suggested that this is the right approach, to be a critical friend, the kind of pre-Christian anam cara person who created modern confession - or at least modern since medieval times - a friend to whom one would confess all of ones sins and discuss all of ones faults and failings. Always remember, however, that for confession to have any meaning there has to be a firm purpose of amendment.

That is our role. We are trying to persuade people and to move minds and hearts. I am optimistic that this will happen. From all I have seen so far, the pragmatic and idealistic approach seems to be effective. We will see. Time will tell.