Professor Patrick Honohan:

Well I ... of course, I'm a professional pessimist, that's what I have to be. So, I'm always interested in the downside. So, I mean, I ... the figures that I gave were based on the ... as I explained out there, the NTMA do a valuation of their loan holdings and they have auditors and that, and I said, "Oh put that in, let's not put a wish ... a hope value in for the recovery in AIB share value ... well the true valuation of the shares when they are sold." He might be right but there's an element, obviously, of upside in that.