Mr. David Gantly:

Yes. Well, in the first place, I would have engaged in discussions with the rating agencies, and I can't remember the exact timing. I think it was Moody's first and then Standard and Poor's, if I remember, but I can remember being in London, you know, at a presentation to the rating agencies and having a discussions afterwards. And, you know, I was asked what did I think and my view was that, you know, the presentation went as well as it could go, the case was very fairly presented but I thought that they would downgrade us. So, I think, somewhere in there too, I think, there is a statement, maybe about how rating agencies actually behave. So, you know, you could argue, you know, 12 months ago the Irish story was clearly becoming ... at the sovereign level was becoming clearly better but it takes the rating agencies ... they tend to be, I think, after the event. And ... but ... I suppose, it's not as important if you're ... if the curve is rising, but if you're in a crisis, it clearly adds, and adds significantly, to the problem. It has a disproportionate influence in a downgrade.