Mr. Kevin Cardiff:

If we were €20 billion to the good, let's say, if the NAMA values had genuinely been higher than the were, we would have ... we might just have skirted ... avoided a bailout but probably not. If you think of ... well, that assumes everything else would unroll in the same way but if everything else unrolled in the same way, we might have found that we would be in difficulty in 2011 rather than the end of 2010.