Mr. Brendan McDonagh:

I don't think so, I think the losses were already there, Deputy. The losses would have to be dealt with at some stage. Once you nationalise them, you brought them onto your State's balance sheet, and you had to deal with them. If you had a resolution mechanism, which wasn't in Ireland at the time in September 2008, you probably could have just left ... the view has been expressed, maybe would you just put them into liquidation and things like that? But I think the reality is that that would have been read straight through to Ireland as a sovereign and the other banks, and, you know, would have been a very risky approach.