Mr. Dick Spring:

As stated by Dr. Somers, in terms of reducing costs in the bank we took on the early retirement severance scheme under which 2,500 employees will leave the bank between now and 2014. The pension trustees pointed out to the bank that the pension fund would not be adequately funded if we did that to pay existing pensions. It was the only option open to the board of the bank. Obviously, all pensioners benefit but our main focus in the actions we took was to ensure the pension fund for the many thousands of pensioners of Allied Irish Bank would be adequately funded.