We are likely to see the emergence in due course of some European or euro area dimension to supervision. The Irish financial industry continues to grow successfully. The priority for the Central Bank is to provide a regulatory service for this industry that matches the best international standards. I believe that we are doing so.
I believe that, in general, our financial industry is now strongly compliant. Unacceptable practices of earlier years, relating to taxation, have damaged the reputation of the industry. There is now an awareness and an acceptance, at senior management and board levels, of the need for greater emphasis on the proper conduct of affairs.