Professor Patrick Honohan:

I will make two observations. One is that many of those dividends were going to Irish middle class people. Second, if it had been proposed to block dividends in the early part of the crisis, I am sure the argument that would have been made is that it would worsen the situation and that if banks stopped paying dividends it would cast a doubt over the banks. That argument would have been made but this is all part of not realising and not dealing with the situation, which was much more grave.

Can I say one thing? I know the committee is in an awful rush but I am looking at the list of things that I hoped would arise.