Professor Alan Ahearne:

No. I agree with the Deputy that the effects of booms and busts, as I said much earlier, are devastating for people. With the huge increase in unemployment and huge declines in employment, added to the fact that people had borrowed huge amounts, many ended up in huge financial distress. People have lost a lot of money because the Government had to raise taxes and cut expenditure to restore order to public finances. All of these things are terrible.