I do not accept that. It is fair to say that the twin pillar approach is the one being advanced, without speaking in advance of a Government decision. The solution may lie in the Forfás model vis-à-vis the IDA and Enterprise Ireland which has worked very well. No one could say Enterprise Ireland and the IDA are not separate organisations acting separately with their own boards and chief executives. However, there is co-ordination on policy which is done by Forfás. A decision along the lines of that type of model may well be where the solution lies.
I do not accept the role of the Central Bank is being undermined. I am sure everyone understands the need for change and to ensure, especially in the context of this economy and what has happened within it, that we have the most effective system of regulating the financial services sector. Although it is a sector which cannot be exclusively regulated domestically given what is happening in the sector and the way it will change fundamentally in the years ahead, we have a duty to ensure within our jurisdiction that we have an effective regime as far as consumers and the public are concerned. We will have something very new and dynamic when the legislation is published later this year.