Ms Isolde Goggin:

I will start with the concern about why we are not seeing new entrants. First, I do not wish to paint too gloomy a picture. We have seen some entry. There are now nine different suppliers of mortgage products in the market. Some of those have very small customer bases, but the fact that they are there is one of the reasons we put a lot of emphasis on making switching easier, quicker and more electronic. If one is a foreign bank or lending institution and one is looking at coming into a market, we have a few hits against us. First, we are quite a small market. Second, there is the hangover from the crash and that is why we were suggesting that we need to get out there and paint the picture that Ireland Inc. is improving, that the economy is picking up and that unemployment has gone down so more people are in employment and can afford housing and other things. We think, rightly or wrongly, that banks do not like to see a lot of Government interference in the market so the Government ownership of AIB and the proposal to cap mortgage interest rates is a disincentive. I am sorry but-----