Mr. Frank Daly:

I think it played a significant role because it was there ... after the eurozone, there was that wall of money. The exchange rate risk was removed, so certainly the wholesale markets were quite willing to provide the Irish banks with funding. The Irish banks were quite willing to accept that because they were getting funding at relatively cheap rates and they had, in their debtors - in property in particular - ready recipients of that money. So, I have no doubt at all it was a factor. And I think in so far as, and I mentioned it earlier ... in so far as anybody was concerned about any aspect of that, it would have been keeping an eye on interest rates rather than keeping an eye on whether that particular amount ... money was going to be turned off at some stage, as happened just before the crash.