Mr. John Moran:

There are a number of points there. It is absolutely a key part of the resolution that banks engage and find all the solutions they can to allow people to stay in their houses if it makes sense for those people to be in those houses. This is where I mentioned earlier the concept of what is a sustainable mortgage and the key relationship between the maximum amount of the sustainable mortgage and the value of the house. It is not in anybody's interests to see the banks kicking the can down the road in respect of people but there are numerous scenarios in which, for example, interest only may be the right solution for people, particularly if in the future one can imagine a scenario in which those people will find themselves with more disposable income to pay a larger mortgage and to start to pay back the value of the mortgage. The obvious example is where two people were working and one lost his or her job. It is conceivable that the second person will come back into employment and the household income will increase to a point where the repayment of the principal may be possible. If we are in a scenario where people cannot even afford to pay the interest portion of the mortgage payment, given that rates are currently at particularly low levels, the appropriate solution, which must be looked at on a case-by-case basis, may not include kicking this out to the future but to resolve it now to ensure that the weight of the excess debt is no longer on them.