Mr. Marco Buti:

I have already answered this in my initial statement, and in answer to questions from Deputy McGrath's colleagues. We did not specifically pinpoint the problems in the Irish banking sector. This was part of how the economic profession in general and international organisations and institutions looked at the developments in the economy. At the time we thought that focusing on prudent fiscal policy and price stability would be enough to ensure the economy grew healthily. There was no focus on the banking sector and I admit this.