• The removal of the tail risk to euro will be beneficial for Ireland
  • ECB measures are complex and reservations some people have are understandable and not surprising
  • Does not expect any ECB activity on Ireland today
  • There are sequencing issues regarding Irish bank debt deal
  • Asked if Bundesbank will come to love new ECB programme, Honohan says thinks they will
  • A lot of differences between new programme and short term nature of SMP. ECB now aiming for something different