Mr. John Hurley:

I don't know about a failure of the ... the .... the Central Bank. I was the secretary of the Department of Finance at this time, so maybe I should answer for that. But the situation is this recommendation that was given to Ireland was given because of the broad economic guidelines issue and ... and over-expenditure by Ireland, as they saw it, of some not very significant amount of money at the time. The only thing I would say about all of that is, yes, maybe we should have reacted differently at the time but we were quite upset because so many countries were driving coaches and four through the Stability and Growth Pact at the time, including the larger countries. I think there was a level of annoyance that maybe Ireland, because of a, not a very significant breach of the policy guidelines, was really being reprimanded.