Mr. Eugene O'Callaghan:

There are two levels to that question which Mr. Nick Ashmore and I will deal with. At one level there is an investor confidence and there is an increasing level of investor interest in investing in Ireland. From the investor point of view, there is definitely quite a high level of confidence. We meet many international investors as part of our activities and it is clear they are interested in investing in Ireland. They are aware we have been through a financial crisis and they perceive that the economy has stabilised, is beginning to be ready for a pick-up and is a good investment opportunity. Part of our difficulty is that many of these are large investment funds and, as Mr. Nick Ashmore said in respect of the PPP projects, they are only interested in writing large cheques and the Irish economy is quite small. If someone wants to write a cheque for a minimum of €100 million or €200 million, it can be difficult to find the opportunity for them to do that, particularly in a single transaction. At investor level, investors are in the business of anticipating the future - that is the essence of investment - and there is a high level of confidence. The other side to it is the people we meet on the ground every day, Irish businesses and so on. Perhaps Mr. Nick Ashmore would comment on that.