Mr. Bernard Byrne:

I accept the Chairman's point. All I was trying to do with the opening statement was bring to life the reality. If everybody changed tomorrow, the European Central Bank would still have a set of views on how we need to model for pricing, including pricing for mortgages and small and medium enterprises. It is based on experience over the past seven or ten years. It is not some theoretical view that the European Central Bank holds of what happens going forward. Regardless of its cause or whether we wish it away, we are subject to a pan-European environment that is slightly less concerned with history and more concerned with how capital is allocated across banking systems. My comment was not meant to be annoying or resolving and I apologise if it was taken as such.