Dr. Mark Cassidy:

Not in this regard. The role of the governor, as a member of the ECB, is to contribute to setting monetary policy for the euro system as a whole and not to take into consideration inflation developments in any specific country. The president of the Deutsche Bundesbank, the president of the Banque de France and every other national central bank are also legally obliged to take into consideration inflation for the euro system as a whole. At present, they are roughly equal. Irish inflation is approximately the same as that in the euro area at present. Sometimes, it can be more in one country than the average or less in another country.