Mr. John Beggs:

Well, I'm not sure it was directly responsible for it, but it certainly was part of what happened. I mean, the ... the ... the move to provide 100% mortgages, etc., I've said earlier had to do with the fact that prices were rising very rapidly. So if you were to ... if you were to ... banks moved away from, you know, these normal conditions for approving loans to looking at, you know, affordability, proportions of disposable income and that sort of thing, and stress testing them for increase in interest rates. But that was in a low interest rate climate, so I think competition ... I would agree with Mr. McArdle that there was excessive competition in the Irish market. The introduction of the euro facilitated that and ... I believe, though, as I said at the beginning in relation to AIB risk appetite and the concentration risk - and this applies to its other ... mortgage lending - that it believed that, notwithstanding the volume of business that it was doing ... that it was doing it ... that it was of good quality, low risk. So I can't ... I can't say that it led to a lessening of standards. I think we had a volume of lending which put us at risk.