Mr. Michael Torpey:

Deputy, it's a very reasonable question and I think in ... in some circumstances that well may have been the case ... but as it happens in the circumstances following the entry of ... or the adoption of the euro as our currency ... that becomes very light, if any ... in terms of an influence. The reality of the marketplace through the years that we are discussing was that liquidity was ... pretty much freely available to all of the banks operating in the Irish marketplace because of the willingness of ... of international debt markets to ... to finance the Irish banks. So the access ... the assurance of access to funding from RBS did not single out Ulster Bank from the other banks in the marketplace. What it did do was create certainty of funding or stability of funding so it, to the extent that any financial institution would finance itself, particularly in short-term debt on the international markets, there is a risk that ... that might be repaid. The advantage in relation ... that Ulster Bank had was the RBS assurance meant that that risk wasn't there on the balance sheet.