Dr. Robert Kelly:

I can answer that, although others may also wish to come in. There is something happening at European level called the savings and investments union, which, in spirit, is very close to what Deputy Hearne is describing. Throughout Europe, we now have large levels of deposits, the majority of which sit in overnight deposit accounts. We have to find ways of using that more productively, even if that means using it for firms outside of construction. Some of it could influence construction and some of it could help support other decisions. A key issue across all of Europe, not just in Ireland, relates to how we can mobilise household assets in the banking sector into a productive use of capital. That is key to us becoming more competitive as a Continent, not only for Ireland. It is a potential lever for us to have a greater supply of funding.