Mr. Brendan McDonagh:

The board reviews the strategic plan each year in light of market conditions and looks at what can be realistically achieved in the timeframe. Back in 2010 everybody was predicting that by 2012 and 2013, based on official figures from the Central Bank and the Department of Finance, the economy would be growing at 2.5% to 3%. That has not happened, so the board must take account of market conditions.