Mr. Ed Sibley:

In and of itself, yes, possibly, but we should think about the banks that are operating here relative to new banks potentially coming in, overall operating costs that the banks have here relative to potential new entrants, and the legacy of technology and systems that need work here. If we were to look at what the Deputy refers to in isolation, perhaps that is the case, but I would not have thought it is a compelling reason that European banks are not seeking to enter the Irish market. We try to look at the biggest issues in the system as a whole, from an overall functioning perspective, a borrower service perspective and a consumer perspective, and how best we can help address them. We cannot force lenders to lend. We cannot force new entrants. We do not have a direct role from a competition perspective. What we can see is that there have been issues with how banks have been operating. There have been issues with the challenges around distressed debt, which we have talked about already. There are issues as to how markets function in terms of, for instance, the amount of switching and so on. We are trying to address some of these underlying factors within our overall responsibilities.