Mr. Ray MacSharry:

Let me give an example of debt forgiveness. If I owe the Deputy €100 and I can only pay him €80, I will have to write off €20. We are not going to do that. On the other hand, if I owe the Deputy €100 and I can give him €80 and in six months or a year, or two year, I give him €10 more and in 20 years I cannot give him the last €10, then that might be written off, but not until then. That is the way the system works. It is the only fair way in the context of treating all borrowers equally.