Mr. Donal McNally:

I looked at the figures for 2008 and we were predicting growth of, I think, 4.5% or so. So was the IMF and the OECD and the Commission. So it wasn't just us that were taken by surprise. We just got it wrong and I can't explain it in any more detail than that. We relied on ... perhaps we placed too much trust in a soft landing, not allowing for the fact that these things could go wrong.