Mr. Richie Boucher:

I think we felt we could get enhanced growth by diversification. We recognised we had large market positions in Ireland. The Irish economy was still growing at 5% to 6%. Certain of our businesses, like our life business and our fund management business, were particularly benefitting from good markets. And then we felt we could diversify in corporate division by getting into different asset classes. As it transpired, that was a right decision for the quality of the assets but we couldn't fund them or provide the capital subsequently. And we felt we could grow our UK business at a quicker pace. That earnings per share growth was kind of middle of the pack, upper quartile as to what we saw other banks were forecasting. It was overly ambitious in terms of the strain it put on our capital and liquidity and our infrastructure.