Mr. Frank O'Connor:

I respect there are a lot of considerations. At a personal level what we are seeing reported every day on our television screens is an awful situation that is occurring. I do not want to be incongruous talking about investment mandates, risk parameters and financial factors but we operate within the mandate laid down by the Oireachtas and that leads to the investment decisions we discussed, whether macro or specific to Ireland, partnering funds throughout the world for that double bottom line for ISIF commercial return and economic impact for Ireland is the framework we work against. We can see what is happening but as I said, we have to operate within that mandate and stay within our risk parameters.