Mr. John Hurley:

The salary of the Governor is fixed in relationships within the Civil Service for a very long period of time. Those relationships didn't change during my period, there was no additions, pensions, superannuation, or anything else except normal Civil Service terms in my case, and subsequent to the crisis, there would have been voluntary reductions in pay taken which were subsumed in the statutory reductions later on, which would be very significant. I accept the point, that public service salaries, at the time, were too high, and President Trichet, when he was here, spoke about the competitiveness issues that he raised, and the issues that you just quoted. And I think they're valid points, and I think, in hindsight, we didn't in our pay determination processes here pay enough attention to that.