Mr. William Beausang:

Well, I mean, as I said before, unless it had a bail-in mechanism, it wasn't going to be a panacea for reducing the fiscal costs. In terms of your question on the referendum, I mean, I know the Attorney General will be speaking to you in due course and he might be in a better position to advise on the constitutional issue. I do recall very clearly that at the time that we put in place the first ... the emergency special resolution regime at the end of 2010, that there was a lot of concern at the time, and I think it was articulated in the Houses that the approach wasn't constitutional and, indeed, I think at the time the President referred it to the Council of State for a consultation but ultimately decided to sign the legislation into law. So it wasn't ... it wasn't as if ... I mean, I think that ... that that demonstrates that there was a concern around constitutionality.