Mr. Derek Moran:

We were ... I also say in it and I just look a very quick look at all the memoranda during that period and there was a range of risks highlighted. The view is that this level of growth wasn't sustainable in the long term and that it was going to ease back and that was, I mean it was through that type of forum. We continue with that, you know, it's ... I think one of the memorandum, it sort of refers to the fact that this extraordinary growth phase is now over. But in point of fact the growth phase went on and on, albeit in a different fashion, driven by domestic factors-----