Mr. Brian Cowen:

Well I don't ... you know, I don't believe that I would characterise housing policy of successive Governments in the way it's been described. The whole purpose was to increase supply and meet a need - a community need - whether it be public housing or private housing, on a continuous basis, that's always been a strong housing policy of successive Governments. I don't accept that ... you know, it has a nefarious purpose that's already rearranged ... prearranged and that Governments are in the business of pursuing that, sort of, idea. That's ... I don't accept that. He had a view, a strong view, in relation to that particular matter in 2003, something came to pass in 2008, and he, obviously, may feel he's vindicated in what he had to say. My view is we need people who are able to build houses to do so in a well-planned and organised way at an affordable price for our people. And there is no doubt that the price rise of houses from the time we became part of the euro, because of the interest rate situation, you would normally have an ability to use exchange rate policy where you're outside the euro to try and deal with that.

But, you know, I think that it's not right to say that people who were involved in this industry are people who, you know, shouldn't be allowed get ... do their work. It's an important facet of any modern society that we have good, well-built houses for our people. And, you know, at the same time, we know that, as a result of the crash, people, as you say, have been in hardship and negative equity and ... you know, I accept that and I sympathise with that outcome, that that happened to anybody. But you know, the fact is that we need a vibrant housing sector so that people can find homes for themselves and their families and we need to try and do that through better planning, better financing and in the most affordable way possible, so that opportunity is available to every citizen.