Mr. David McWilliams:

I thought to myself that pray and delay could be a tactic but that there has to be a strategy. I was really fully expecting a strategy to come out, that this is what we were going to do, that we have a bank resolution mechanism and we know how to deal with this. At every juncture during those two weeks, nothing was coming. It was still the same thing, that the banks are well capitalised and that the Irish banks have been stress tested. One will remember all that sort of stuff. The crucial point to appreciate is that the rich guys get their money out; it was a poor average person who gets burned in a bank run. That is what happens.