John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

I want to refer now to a board minute in the second half of 2007. It's in Vol. 1, page 123 of the document. Again, I'm not sure that it's one that can be publicly displayed, but I want to read the quote to you. It's recorded at a board meeting of the Central Bank and Financial Services Authority and it is as follows, "the underlying fundamentals of the residential property market appear to be strong and the current trend in prices would seem not to imply a significant correction. The central scenario is, therefore, a soft landing." This was the second half of 2007. First of all, I want to ask you who conducted this research. What was their, I suppose, qualifications to do so? And were there any dissenting views expressed at that meeting that you recollect with the research, as produced?