Mr. Klaus Regling:

We talked about bonuses, so obviously the system was in place that people benefited from increasing loans.

On how far spread this was, the Deputy's implications are very political. We did not get into that. However, certainly some people benefited a lot from these developments and it was, let me repeat, against a background of everything going well, the standard of living going up for a large part of the population and GDP per capita growing strongly. We know today it was growing too strongly and that it was not sustainable. Everybody benefited, some more than others, but a large part of the population also, and people thought these good times would never end. Again, this was not an Irish phenomenon. This was the same in the United States and many other countries.