Mr. Brian Cowen:

I think there was although I think that there was a sort of a ... from the beginning, I am only observing or giving a view whilst not being there, I get the impression that there was a very strong effort to make sure people worked well together and that good relationships were established. I certainly know that the Governor of the Central Bank was very anxious that that would be the case and every of these new organisations set up so there are small changes from the past, you know, things need to bed in fairly quickly and I know that they worked very hard on that, so personal relationships as I understand it were good. I don't believe that, given what is under investigation here, that there was confusion of such a nature that people couldn't do their job. I just feel that there seems to have been a position where financial stability issues seemed to be left with the Central Bank Governor perhaps, when there was an input required from the Financial Regulator, and the Financial Regulator left to deal with individual institutions when maybe people in the Central Bank should have just let them know if they had concerns. It seems to me that there was a separateness there that whilst understandable in terms of the statutory powers that were assigned to both bodies and despite the fact that there was an effort to have a good working relationship, it may have been the case that people didn't want to tread on other peoples' turf to the extent that maybe they otherwise would were the structure different.