Mr. Brendan McDonagh:

I would love to say we would get the €50 million back. If we acquired the property for €20 million and its value increased to €50 million, we would clearly have an unsustainable property bubble of the kind that led to the problem in the first instance. That would not be a good result. From our perspective, however, we would like to see sustainable recovery in the property market in line with the recovery of the economy. We would do our very best to get back the €20 million we paid for the property. If we could get more, that would be great, but it would be in no one's interest to have the value rise from €20 million to €50 million, which it was never really worth. If the value increased from €20 million to €25 million, for example, and the property were then sold, it would be a very good result for the taxpayer as there would be a gain of €5 million. However, the taxpayer will have lost on the other side because the banks would have had to have been capitalised in respect of the difference between €50 million and €20 million in the first instance.