Mr. Terence O'Rourke:

The issue for us was whether AIB said we'll continue in operation or existence for another year; there are lots of uncertainties out there, lots of risks, and at that stage, 2008, looked like there were losses coming down. AIB reported, "We've taken €1.8 billion this year, we've another €6 billion to come in cycle. We've got lots of losses coming, and there was a risk there could be more". That was said as well. So what we did was, we said, well, if those risks come to pass, will AIB be there? And the answer was yes, because the Government had told us they would support the pillar banks. So, on that basis, it was reasonable for AIB to say, "That's our accounts, we will continue in existence". So it was a reasonable judgment for us to make, we felt.