Mr. David McWilliams:

I said: "Let us say two years." The phrase "let us say" is hardly a scientific formula. I told the then Minister that the period had to be sufficiently long to assuage the fears of Irish depositors but sufficiently short not to encompass everything.

I said to the Minister it has to be sufficiently long to assuage the fears of Irish depositors but sufficiently short not to encompass everything. I said to him that is what auditors and civil servants do, they make those decisions.