Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

But in the statement of that time which was in around April 2007, the statement goes on to say in the same paragraph, "Even the most pessimistic prediction of economic growth next year which is 3.5%, will see the Irish economy growing at nearly twice the EU average." Then it goes on further in the statement to say, "The current situation in the housing sector is a sign of strength and maturity, with the industry responding quickly to the transition in the market." So there was a very strong position coming out in the CIF that despite the concerns being expressed in the "Future Shock[s]" programme, that you were making ... or the CIF, through Mr. Fitzpatrick, was making the statement that this was completely misplaced. Would you on ... despite the presentational aspects of it, what is your view of that now, going back and revisiting what the CIF's position was at that time?