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

You don't have any view.

Finally, in relation to the ... one of the central tenets of your contribution here this afternoon, you have said that the blanket guarantee in your view in all its circumstances was the right decision. I think you might have even used the only decision that could have been made on the night of the guarantee. Yet you have also outlined in your evidence that a facility, at least for one institution, was available for emergency liquidity assistance to be provided. In light of that I want to quote to you evidence of your successor, Governor Honohan. On 11 March 2015 before the inquiry he was asked by Deputy O'Donnell whether Anglo should have been nationalised on the night of the guarantee, and he gave the following response:

It should have been nationalised because that was the only tool available legally for the State to take control. Control should have been taken. It should not have been left in the hands of the management. It was very risky to leave it in the hands of the management. I would have left it to the weekend using emergency liquidity assistance, ELA.

I just want to, I suppose, ask you of your view on-----