Mr. Gabriel Makhlouf:

I will ask Mr. Sibley, who has been looking at this issue, to comment shortly. I want to make a couple of points. I have heard a number of people point out that mortgage rates are higher in Ireland than they are in Europe. All I want to signal is a bit of caution that sometimes we are not comparing exactly like with like because the terms under which mortgages are provided in Europe can vary. For example, in some countries borrowers need to pay up-front fees which may not exist here. I would just signal a caution around that. On the other hand, the reality is-----