Mr. Michael O'Flynn:

There's also the restriction in the Central Bank lending, I think is unfortunate at the time it came. Because you have to have viability before you have restrictions. You ... if you're struggling with viability and you have restrictions, that's really difficult. And a house in one part of Ireland compared to a house in another part of Ireland. Like, you have to look at viability, the appraisal and different parts of the country. And I go back to ... it has to be ... it has to be affordable. And I think that it's a sophisticated ... it's a serious problem and it needs a very sophisticated solution. And I think there are ... were some announces by the Government that we left X number of houses built by NAMA and whoever. Look, it's not going to happen. So we need to face up to the fact that we've a problem, we're not dealing with it and we have to start dealing with it sooner or later - otherwise the problem gets bigger.