Professor Patrick Honohan:

Yes, yes. What I would say is that in July, if I go back to July, not about just the banks but on the fiscal situation, our economists in the Central Bank alerted me in the middle of July, they said that the fiscal situation is going badly wrong, and I said I know it's not going to be. "No, no. it's worse than you think", so they did sums out and ... they ... those ... I had concerns then that maybe Finance weren't sharing the view that we had at the Central Bank, that the fiscal situation, banks aside, was going to go off track. And I got my colleagues to speak. I said "I'm not going to write a formal letter to the Minister but you make it clear at the official level our position on this" and we continued that dialogue and eventually at the end of August I remember talking to Brian Lenihan and saying to him, "You know your debt ratio is going to be 100% of GDP at the end of the year?" "No," he says, "no, you're wrong, you're wrong." So there may have been some differences on the overall fiscal but not on the banking situation, full sharing.