Professor Philip Lane:

Yes. I think even on Monday at the conference here in Dublin BenoÌt Cœuré spoke about it; essentially attitudes have evolved over time. The diagnosis of the financial crisis has evolved over time. In the report I stated that essentially financial stability is really a common responsibility. To the extent of the common responsibility, it is deeply unfortunate that essentially so much happened at a national level. The fact that the guarantee was issued at a national level without, it looks like, too much negotiation in advance with the rest of Europe-----