Dr. Michael Somers:

I think we are moving very much into the area of public policy and what the Government wants to do. Obviously, whatever happens, when the Government decides to move on any of these areas, it will not be just with AIB but with all the institutions.

The Deputy refers to what different generations paid for their homes. I had a mortgage for very many years and I do not think I ever had an interest lower than 8%. People complain about interest rates of 4% but I suffered under a rate of 8% and more. I recall in 1992 and 1993, when we had the currency crisis - Mr. Spring will recall this as we both sat around the same table at that time - one of the reasons was that the banks were charging 14% for mortgages and were about to jack up the rate to 18%. At that stage, we threw in the towel.