Mr. John Hurley:

But I thought it was very clear. I thought my position was that we wanted to protect the guarantee, that, if in fact, you have to extend more emergency liquidity assistance to Anglo Irish Bank, when already the situation of Anglo Irish Bank was out in the marketplace, that could damage the guarantee for the two pillar banks.

And in that situation the Government would have made a decision to guarantee the entire financial system and you would be endangering the guarantee. I saw no sense in that and I said so.