Mr. Con Horan:

I think that certainly would have been one of the issues that was reflected in the share price. I mean, I think there were a number, there would be a number of drivers to that point in time, such as the liquidity strains, the size of the Irish banks, etc., they weren't able to compete in the same way as major globally systemically important banks would. So being a small jurisdiction with small banks would also have played on the pressures, but I'm not taking from your point in terms of the property market; it was the issue that was relevant and would have been commented on at the time.