Mr. Jean-Claude Trichet:

I have not read this paper. I had, you know, contacts with Brian Lenihan that we're extremely confidant, and you can see in the letters which have been published, which was the nature of our exchange, we had the sentiment that we cannot only rely upon oral discussions, that we had also to make things clear from his side and from my side, and that is the reason why we have written letters, which were at the time, as you know, totally confidential. I have not said that to Brian. We have said, all my colleagues and myself, not to Brian, to all governments, "Be careful." We had drama coming from Lehman Brothers. It's bankruptcy, it's an absolute drama, and all Heads of State and Government, to my knowledge, said there will not be a new Lehman Brothers in my courtyard.

It was said by the Council European. It was said by the President of the US, it was said by Gordon Brown in the UK, it was said by all Heads of State and Government, and there was absolutely nothing peculiar for Ireland at that time - nothing. Ireland was particularly aware of the fact that it was very vulnerable, and I guess that it is the reason why the guarantee was decided.