Mr. Gerry O'Regan:

No, I am not because the ESRI, which was one of the primary economic forecasting units in the country, had come out - I do not want to rehearse the details because I have already described them - to project a quite benign view for the future of the Irish economy. Obviously the headline reflected the essential tone of the piece, which was intrinsic to the ESRI's findings. The essential point I was making, however, is that rather than ignoring an aside conclusion offered by Morgan Kelly, our economics editor took it on board and accepted that he had a valid point.