Professor Patrick Honohan:

Yes. That is what I meant there but it is also true that with any kind of bad news story, the other banks were close enough to the edge as well and they would probably also have needed ELA.

Actually, in the end, in 2010 they all needed ELA so it was just postponing. It was not the end of the world. It is not good, but it is not the end of the world in a crisis like that if you have to give a bank ELA.