Mr. Brian Goggin:

Well that's why I asked him the question in the first instance to be quite honest about it. I expressed my concern about the proposal that was intended. If I go back in my history in banking, I can remember back to periods where there were, you know, monetary amounts set as limits for credit expansion. I'm going back now to the pre-euro times, I'm going back to the Irish pound. So my prior experience of regulatory interventions were such that I saw no reason why the regulator wouldn't intervene in an environment where the market was just getting out of hand and that's why I proposed and suggested to him in response to the suggestion he was making that this would be a much preferable way of dealing with it from my perspective. And that's why I volunteered to come out publicly and fully back that decision, were he minded to make it.