Mr. Brian Cowen:

Well, I mean, you know, as I say, I've given the rationale for the contemporary thinking that I did. You're now looking on ex post factoanalysis. I'm explaining that there was a plausible reason for us pursuing the policies we did. I clearly see now that we have a situation which is totally where we weren't expecting to be. And, if I had knowledge of that, or if there was a ... an ability to recognise that was more likely than unlikely, I would simply be talking to you about a different policy framework now. So, all I can do is give you ... in this ... in this forum ... debate, of why we were thinking what we were thinking. Mr. Wright comes on then and says, well, I think it's a totally home-grown crisis-----