Mr. Charlie McCreevy:

I don't think so, Deputy O'Donnell. I've read some interesting commentary on this in the past while this committee sat. I am not for one moment saying that it was a very elegant structure that we came up with, I wouldn't say that for one moment, but I have to say that I don't think it contributed to the financial collapse.

And now since I am post my 2004 period, I can ... I say ... I think, I ... you must remember the Financial Regulator in Ireland was to regulate banks to the same capital requirements directive that applied in all other European countries-----