When you began the job of governor, what advice did your predecessor, Patrick Honohan, give you?

Probably the most important thing was: “It’s up to you. Don’t feel bound by prior decisions if you want to move in different directions.” It was very nice to hear that. Beyond that, we were long-time collaborators, since the late nineties. So I absorbed my example from his period in office, rather than from any direct advice.

Was it important that you had policy experience, from the European