Mr. David McWilliams:

The first part was that when I wrote these articles, my idea for the guarantee was a holding guarantee to figure out the problem and move on. The question is whether that should be in one year or two years. The time horizon is important. I remember saying to the Minister that if people are worried their money will not be in the bank when they go to get it out, and a two-month or three-month guarantee is given, that is not long enough to assuage the average punter that their money is safe. People must be given time sufficiently far out that they think they will be grand. Two or three months would have taken us to Christmas and was not that far. On the other hand, I said to him that auditors need to find out the facts about the maturity obligations of all the loans of the banks so that we did not cover too much.