Mr. Jean-Claude Trichet:

No, I don't say that. I say that in the circumstances it was clear that there was a particular pressure which was exerted on Ireland. I would also say that it is difficult to redo the history of these dramatic events. As I said, at the time of the guarantee given by Ireland to its banks, we ... they had to cope with a total collapse of the banking system because, again, it appeared that the banking system in Ireland was probably one of the most vulnerable of the world, taking into account the dimensions of this banking system, the particular, I would say, inflation of balance sheets and so forth. So, the possibility would have been, perhaps, a total collapse of the Irish economy at that time, and we would not be there to discuss the recovery of Ireland and the success story of Ireland because there would be something totally different - a dramatic depression - in Ireland.

Again, we are speaking of a Government which is not there anymore. We are, unfortunately ... and I am very sad that, speaking of a Minister of finance that passed over ... I think that he did what he thought was the best in absolutely dramatic circumstances. And, of course, a lot of responsibilities were here but these dramatic circumstances were coming a few days or half days before from an incredibly dramatic event coming in New York and which the wave was coming immediately, in Ireland particularly but in the rest of the world also, as I said.