Mr. David Duffy:

It is the case and unless there is a contractual change in the environment, as CEO, I cannot make any change to these arrangements. However, notwithstanding these arrangements and any arrangement reached in the future, for the broader population of AIB, past and present, many of whom have nothing to do with some of the decisions made in the past, we had to address the issue of pension restructuring. The deficits would have meant pensions would have been wound up and in that case all pensions, including those for long retired pensioners who were in the bank before any of these issues relating to current employees arose, would have been reduced by up to 50% or 60%, which we considered would have been inequitable. Our purpose was not to fund any particular pension but to address the critical mass of the population.