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

Yes, well it is a letter from the chief executive of an institution, which he wrote to you following on from a recommendation from you, it appears from the letter, that that institution should merge with another Irish institution, both of which would be subsequently guaranteed two weeks after this letter was published. And I ... in particular reference here to the answer you gave to Deputy Doherty, you said that on ... in the run-up to the guarantee a nationalisation of Anglo and a guarantee of the rest was what was considered on the night. And in light of this particular letter how do you reconcile those two positions?