Mr. Rob Wright:

No, I would not want to speculate about what happened at that point in time because I did not see any written advice, but in the advice a few months earlier, they clearly expressed concern about the spend, and it was just enhanced substantially a few months later. I would not expect that would be supported by the Department.

Let me be clear on this because the Deputy is making a really important point. There is an annex to the report about comments from international agencies and I think it is a very fair point, but the international agencies should have done a better job in prompting Ireland to be more sensitive to the financial market risks and the financial sector regulatory world. It was not picked up, but there was a lot of concern expressed over that whole period by the OECD in particular, about an overheated economy and the need to be cautious. That should have been fitted into those issues.