Ms Cathy Herbert:

Well, I think the "You're on your own" message came clearly from the very top of the ECB. I certainly though I wasn't aware of it before the bank guarantee, I certainly heard from Brian Lenihan afterwards and others that Mr. Trichet had been in contact to say, "You know, whatever you do, you must save your banks, stand by your banks." And I think I wouldn't have known the detail but it was made clear that you should do that by yourselves, that there wasn't going to be any pan-European approach taken to this and that was the experience in other countries at the time.