Dr. Eddie Casey:

One way we tend to talk about this is in terms of what it means for the economy as a whole and whether it will contribute to overheating, for example? We are probably less concerned about that now, given where we are. When we said it looked like a high level, we were really pointing to the concerns that, if we had not been in the middle of a crisis caused by other factors, it could have resulted in a situation where the economy was potentially recovering to a high level of activity and then we were pushing and injecting more stimulus to that circumstance, given that we were rising to a high level by international and historical standards for Ireland in terms of investment.