Mr. Frank Daly:

We are not a housing agency. I have to start with that point. What it signals is that in terms of our primary mandate of getting rid of the debt we have been quite successful. We are now at the stage where we are absolutely confident that it will be repaid by 2018. On top of that, we are generating enough cash to be confident that we will also deliver a surplus of at least €2 billion to the Exchequer. We have cash, resources and expertise available along the way. We see two needs in the economy or society at the moment, namely, housing and commercial office space, in particular, grade A office space. NAMA can neatly fill the gap, because we control many of what we call the success factors. We have sites, money, expertise and the opportunity. It is not so much a revamping of the agency's role, but it is recognition that, six years on, we have done well in the core job or objective. As a consequence, we have generated the capacity to do more and we are willing to do more.