Mr. Ed Sibley:

What I said was that I certainly had no issue with the objectives of the Bill in terms of variable rate pricing coming down. That would indicate that the mortgage market is continuing to return to a degree more of functionality that it had last year, two years ago, three years ago and today. There is, therefore, no objection on that basis. The concern around the Bill is that it is treating the symptoms. There is a symptom now in terms of variable rate mortgage pricing being higher relative to other eurozone countries. As I noted, there are dangers in that comparison if it is overly simplified. What we are really saying, however, is that the underlying factors - the causes of the difference between mortgage rates in Ireland versus other eurozone countries - are the things on which we should focus. These are the things on which the Central Bank is focusing and is continuing to try to address.