Mr. John McCarthy:

To be clear, Deputy O'Donovan rightly mentioned the word "shocks". These are sector-specific type shocks for a particular firm where we have a high concentration. There are many things going on in the world economy about which we are very concerned. I refer to China, emerging market economies, the stance of monetary policy in the US and so forth, all of which could potentially have negative implications. We are conscious that there are no particular sector-specific or firm-specific shocks in the immediate future but there is a lot of uncertainty about global prospects at the moment.