Mr. Richie Boucher:

That is a fact. The fact is that if Bank of Ireland is not profitable, it cannot lend into the economy and give a return and repayments to the taxpayer. Those are the broad parameters. Should we spend the time concentrating on a single issue without looking at the consequences broadly across the responsibilities that I, my colleagues and our board have to consider all our stakeholders, including private sector shareholders who provided capital and the customers who are meeting their repayments, often in difficult circumstances, and to work with challenged customers? I do not and cannot agree with the Deputy that our restructures are not working.

They are sustainable restructures which take into consideration the cashflow characteristics of the customers, and we want to resolve those with customers. In July, we provided a solution to 80% customers who had engaged with us and provided an SFS, standard financial statement. It may not be the solution some people might like, but to us and to that customer, who has taken third party advice, that is a sustainable solution and, in particular, that customer stays in the family home.