Susan O'Keeffe (Labour) | Oireachtas source

Not surprisingly, I'd like if I might, to come back to this document again in Vol. 3, the one that has the changes. Because you've given in evidence here this morning and you've said to us that it was good to provoke thought, I think was the way that you put it, and you talked about changes being purely of a factual nature. I would draw attention then to page 12 of that document, that's Vol. 3, page 12. It says:

Prior to the weakening in the property market and the recent financial market turmoil, the Irish banks were highly profitable and well capitalised, which will help to adsorb the shock. But it would also seem important to be prepared for the worst.

Now when that came out in the report, the final report, it said, "The Irish banks are highly profitable and well capitalised, so they should have considerable shock absorption capacity, but it would also seem important to be prepared to deal with downside risks." Now it seems to me there's quite a difference between saying the Irish banks are highly profitable and, prior to the weakening, the Irish banks were highly profitable. And they should be "prepared of the worst" turns into "downside risks". Would you continue to describe that as a factual change?