Mr. Brian Cowen:

Well, we certainly at Cabinet asked for explanations to what was the ... what was the reason for this discrepancy. And, in fairness, I suppose, the Governor of the Central ... the people who were doing the capital assets reviews through the Central Bank, the Governor and, I remember, the regulator - both Professor Honohan and Mr. Elderfield - attended a Cabinet meeting at which this was discussed in some detail and explanations were given. It doesn't mean that ... you know, it doesn't mean that it was nice to hear it but the fact of the matter was that the situation was even worse than we had expected, anticipated or had been communicated to us. And, as I say, bankers were either in total denial of what their situation was or they were finding it very hard to communicate the reality.