Mr. John Hurley:

We had the emergency liquidity ready for the following morning and not just that, you know, we would have been in a position to provide other emergency liquidity assistance for Anglo Irish Bank subsequently but the issue was: what does that do to the guarantee and to the pillar banks? And given the stigma attached to emergency liquidity assistance and given the fact that I had the head of a bank in my room telling me about the problems in Anglo Irish Bank, so their problems were certainly known to some people. If they were known all over the city, where did that leave us? As far as I was concerned, the risks were enormous.