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

Okay. Maybe if I can draw attention to one document there. It's in your evidence book and it's the Central Bank 2007 annual report and a summary is given at the top of it there, Mr. McNally:

... the Central Bank is forecasting that growth in both GDP and GNP terms will be "significantly less than 1 per cent" this year, with some modest improvement in prospect next year with growth forecast to be about 2 per cent. Unemployment is forecast to average 6 per cent this year, mainly on foot of the construction and slowdown, and Ireland like others is facing ... difficult inflationary pressures. In terms of public finances, the Bank concurs with our assessment. The Bank reiterates the assessment that Irish Bank's [sic] are well capitalised with good quality assets and that the banking sector's shock absorption capacity remains strong.

Do you recall that document and that advice at the time, do you?