Mr. Tom O'Connell:

My worry was that people were in denial. You know, there was a massive property bubble there I felt no matter what the statistical exercises or econometric exercises would showed. So my concern was that, when this all hit the buffers, the country was going to be in a massive problem. So, I mean ... I ... in relation to the OECD chap, for example, you know, one of my subordinates, I asked him to ring the OECD ... to ring the newspapers, because I can recollect distinctly the OECD view about over-valuation of property was on, it was either page 3 or page 5 of The Irish Times, top of the page. And I mean, to expect the OECD to ring up the newspapers and say "Well they were misquoted", you know, that was sort of off the wall. You let the OECD make up their own minds, for better or worse.