Mr. Gerry O'Regan:

The central point in that argument is that in the light of subsequent events, one can retrospectively draw conclusions. In fact, the essential point I was making in my submission was that newspapers and the human condition can only make judgments and continue on making statements in light of what is known at a particular time. The debate on our economy is ever-changing. There is a new emphasis almost by the day and certainly by the month in light of a changing scenario internationally and domestically. It would be as if the paper tomorrow carried economic predictions for the next year. They will often vary in the context of the writer or economist who is making the judgment. People come to these things with their own prejudices, presuppositions, blinkered approaches or whatever it is. Often, one has to wait for events to happen to find out who was right and who was wrong.