Susan O'Keeffe (Labour) | Oireachtas source

Okay. And in a note in ... in July - there was obviously a memo to Government about the budgetary consolidation, obviously, that was going on at the same time - and quite clearly in that note ... it shows exactly how poor the finances were becoming that there was a ... that the ... "As a result, combined with the tax shortfall of at least €3 billion, there is now a strong likelihood that we will be in breach in 2008 of our EU commitments arising under the Stability and Growth Pact". So, again, as I'm saying, just there in June and July as we came in to the end of the summer, problems were already there on the horizon. Is that correct?