Professor Patrick Honohan:

I don't see it as getting worse because if this is ... if you can imagine, there are some arrears will be resolved. So they get resolved within maybe a year or two and other arrears are going to take years and years, so they slip from being 90 days to 360 days to 720 days. They're just there and they accumulate in the bucket of below ... beyond 720. So, what doesn't fall out the other side is resolutions, repossessions ... that's why that percentage increases because the end state isn't reached.