Mr. Frank Daly:

On what we know about Walbrook Capital, we know a process was gone through over a period of seven months or something like that to identify a potential investor for the Irish Life share in National Asset Management Agency Investment Limited, NAMAIL. As the Deputy is aware, this is because EUROSTAT expressed some reservations about the fact that when Irish Life & Permanent was taken into State ownership, the majority ownership of NAMA then became State-owned. That would have put NAMA back on the books, which everyone agrees would be something of a disaster.