Mr. Kevin Cardiff:

Yes, well, that's true. Even within the Irish system and in every other system where things started to go wrong there was, if you read the UK reports as well, there is a tension between central banks and regulators, and between central banks and regulators and finance Ministries. The tension is always about who does what and whose job it is, and that was magnified at the European level so at the European level for the first two years of the crisis, the ECB was always saying, "Okay we're doing this but we don't want to. We think that governments should be doing more", and the governments were always saying, "Well, look if only the ECB would...". So this stand-off, you know, it wasn't a full stand-off but there was this sort of sense of a stand-off that got in the way and, of course, it would be nice if that was dealt with in 1999.