Mr. David Doyle:

For a start, the ... there definitely was confusion in the minds of the banks themselves about the ... what was the driving force for that speculation and threatened runs and adverse comment. Was it international speculation, was it caused by some of the speculation on shares that was going on that we ... would be difficult to go through? Was it based on analytical evidence on what the true story in the banks was or was it just an Irish ... an anti-Irish story? Or did it reflect the common things that were happening across Europe, the UK, the massive downward trend in share prices generally? Now, the trend in Irish share prices was more. But there was ... there was clouded thinking there. There was a cloud, you know, was there a real Irish problem or was it an international problem?