John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

Okay. He also said on the same point yesterday ,about consolidation in the banking sector ... and I want to quote him directly again, he said "There was some conversation subsequent to the guarantee about institutions merging and doing, you know, transactions. I think there's been some evidence to the committee about that and there were some conversations held with us as to whether we, as a group, would be interested in participating in consolidation of the Irish banking sector." Just want to know, Mr. Gallagher, can you provide any additional information as to the nature of those conversations and, really, who was asking Ulster Bank to participate in consolidation of the banking sector and what consideration was given by Ulster Bank to those conversations?