Mr. Sebastian Barnes:

This productivity puzzle is not just an Irish problem. The UK has the same issue where gross domestic product is catching up. Employment there was a mystery as it was growing very fast but the economy was doing very poorly. US productivity has the same weaknesses seen here. We are in a pretty unusual situation economically with this very long recession and part of these uncertainties are the distortions created by the measures to boost demand by quantitative easing. We do see there is an upside risk.