Mr. Patrick Neary:

No, I can't recall that, Chairman. In the earlier meeting there was a general ... just let me work through it in my mind. The earlier meeting there was a general discussion of options and we talked about the capital position. The second meeting was it had crystallised down into a choice between the two, so no, Chairman, I don't remember anybody coming in from the word go and saying, "We're guaranteeing everybody."

Fair enough. If I can ask you ... if I can just bring up Vol. 1, page 123, and just go into some matters there as regards to the tone of the situation back in 2007, and the financial stability report as it was discussed then. And if I can just come down to the end of the page 123 ... there we go, yes ... and just a ... just quote the following paragraph to you there, Mr. Neary:

Following the presentations, there was a detailed discussion on the content of the draft Financial Stability Report. The meeting considered that in the continuing turbulence and uncertainty in the financial markets since early August, the tone and comment in the Financial Stability Report will be of particular importance and sensitivity.

Can I ask you to comment upon this? Could this potentially have been an opportunity missed in not setting out key issues more starkly? And what, and who, drove this decision, and what contribution did you make to the discussion in the way that there was a very measured set out in the financial stability report?