Mr. William Beausang:

Well, that's one of the major recommendations that arose, let's say, or that were implemented at ... at European level, post-crisis, to put in place a structure with responsibility for looking at all of the risks contributing to ... at the macroeconomic and at the macro ... at the level of macro-financial stability so that was ... I suppose the point that I was making earlier was that if the DSG had been in place at an earlier point, it would have provided the opportunity maybe for a better pulling together of an assessment of those risks because what you would have started to do in that situation is bring together the people from the financial stability area in the bank, the macroeconomic forecasters in the Department of Finance and that you would have created at least an opportunity for more of a teasing out for the whole spectrum of risks facing the economy and the financial system at the time. As it was, because the DSG was established in July 2007, by the time it actually started its work, it was already in sort of crisis mode in reporting on developments in the financial system.