Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Right. And, if you look there at quarter 1, 2001, and quarter 1, 2002, this is the period I'm talking about. And, what we see in the graph there is that residential new house prices and second-hand house prices are kind of flat-lined going back to '92, then they're rising, then the impact of the Bacon report is beginning to kick in, and we see a modest reduction in house prices, and then we see the removal of ... just, on the same timeline, we see the removal of the Bacon holding measures, if they were described as that, and a significant increase, right up until 2007 or so, in house price property values. In hindsight, were the decisions that you made ... did they prevent or create the soft or hard landing that was going to come in the property market?

In hindsight the decisions that you made, did they create or prevent the soft or hard landing that was going to come in the property market?