Mr. John McCarthy:

No, although the Deputy's question is very relevant. During the crisis period households were deleveraging such that there was a massive destruction in household net wealth, mainly on foot of a decline in house prices. I think there was an approximately 45% decline in household net wealth. Households responded to this by accumulating financial assets and reducing financial liabilities. In other words, they were deleveraging. However, household net wealth has been on a rising path over the past three to three and a half years such that it is now 35% above its low point. I think that is a positive. One could also look at this from the point of view of the leverage ratio.