Mr. Jeremy Masding:

The Deputy asked two questions. On the first, where do I start?

Ireland would be best served by a fully-functioning banking market. In my conversations with investors, there are some concerns about both the European banking market and the Irish banking market. Ultimately, the investors provide the capital for us to allow our businesses to grow. If that capital becomes more expensive, there is only one constituent who ends up paying for it and that is the customer. The level of capital that we put up against mortgage lending would increase and that has an impact on front book pricing, and I am not sure that is healthy for anybody. I suspect we will not agree on the issue but in my opinion, a fully functioning banking market, both front book, back book and arrears, should involve a secondary trading market, including non-performing loans sales.

With respect to the Deputy's second question, I am not aware of that situation. I am not sure what comment I could make.