Mr. Gary Tobin:

That is the Chairman's view. We have tried to set out, in a clear way, what we feel are the likely implications of this legislation. Clearly we disagree on this. There are a lot of borrower protections in place in Ireland. There is a very, very low level of repossessions relative to other European countries. I have no doubt there are people who, as the Chairman described, are in mortgage difficulties and are experiencing extreme hardship. That is a terrible fact but, over the past number of years, there have been concerted efforts by various Governments to improve the situation. I am sure there is still more that can be done and we are certainly open to ideas. Unfortunately, we cannot come in here and tell the committee that this is great legislation when we think there are substantial flaws in it.