Mr. Con Horan:

I mean, I've obviously thought about this quite a lot over the years. My view, looking back on it now, is that from the early ... from the mid-1990s right up to 2001, 2002, the market was very active at that stage, the lending was very high, and that continued obviously into 2003 to 2006. My view is probably at that stage, at the earlier stages, before the system became dependent, almost, on the property market, that the interventions, maybe regulatory interventions, from an earlier stage would have curtailed it, and we should have had some targets in our mind as to what was acceptable levels of growth right throughout the period. So, I think it was a ten-year property bubble, and I think it's ... we left it too late in terms of the intervention.