Mr. Aidan Carrigan:

On the insurance comparison, insurance is structured so that there are regular claims and it is expected that there would be a certain number of claims in any one year, that one pays some more and that one is paying a certain amount towards general insurance issues. What we are talking about is different from insurance in that it is creating a fund that can be called on in the event of certain things happening. The assessment of €55 billion was made on the advice of the financial experts, the ECB, the European Commission and the input of all 28 member states. Therefore the views of the 28 governments, the ECB and the European Union were that this was a reasonable sum that would be likely to cover a bank resolution situation in the most likely bank resolution situation to arise. In the event that more than €55 billion is required, there are provisions for ex postcontributions or for back-stops, as we mentioned earlier. It is different in its structure and in its purpose.