Pearse Doherty (Donegal, Sinn Fein)
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I am sorry Chairman, I have a question. I know the Chairman was doing the long goodbye.

I wish to raise a minor issue. We did not touch on the bond bubble, and although quantitative easing has been extended at the same time it has been signalled that it will be turning off and the fact the State is likely to reach the limit early next year. We have seen movement in bond yields in the past number of weeks, some significant movement in the century bonds - reducing by about 40%. I know Professor McHale spoke earlier about debt and the importance of reducing the debt levels because they have to be refinanced. In the council's view, is it bigger than that? Are we seeing a bond bubble that is about to collapse both in Europe and further afield?