Mr. Kevin Cardiff:

In the months that followed, I suppose, if you want to see wisdom in the guarantee, the wisdom of the guarantee was this: that it wasn't just that they couldn't get money, you know, in terms of straight lending. Other people started to rely on the guarantee as their only ... as the ... too ... like, if there wasn't a guarantee, they wouldn't have got their auditors to clear them. And if they couldn't get their auditors to clear them, they were sunk. If they hadn't had the guarantee, they wouldn't have ... their ... the guarantees that trading companies relied on from the Irish banks wouldn't have been recognised. If they hadn't had the guarantee, maybe the people who handle credit card transactions internationally would have pulled out.