Pearse Doherty (Donegal South West, Sinn Fein)
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The witness referred to the credit-fuelled bubble that arose. We know from the Nyberg report, for example, that commercial property was the main reason for the collapse of the banks. Given the fact that we have seen an increase in the supply of commercial property - over 21% in the last year - is the witness concerned, or how concerned is he, in regard to this rise? People understand houses and mortgages, and when we talk about the banking crisis people think it was all to do with 100% mortgages and tracker rate mortgages because maybe they may not be as familiar with commercial property. Are alarm bells starting to ring in the Central Bank in regard to commercial property in the country?