Mr. John McCarthy:

I suppose in the first instance we were looking at sites that were coming to the maturity of their loan. If they had the prospect of being developed in the short to medium term we would have come to another arrangement through the social housing programme. Basically, we took the view that if they were likely to come into use in the short term then we could address the financial issue through the capital funding available for the development of the sites. However, the fact that this was not possible for so many sites was the reason behind looking to the medium to long term.