Mr. David Duffy:

Yes. Perhaps that is my mistake in terms of the documentation. I stated immediately after the rules were issued - this was reported on the front page of the Irish Examiner- and subsequently at a conference that I was absolutely supportive of the proposed rules. I would like to make clear that I do not have any equivocation about the principles. I am old enough to remember being subject to these types of limits when I was young and looking for a mortgage. If one looks at long-term stability, these are the types of principles we should have and they should be inherent in every economy. Not unlike anything else I am trying to do, this is a matter of execution. When one seeks to introduce a significant change of policy at a particular point in time it always creates unintended consequences. It is taking us some time to try to map out these consequences in order that we can give an informed and constructive view to the Central Bank.