Mr. Brendan McDonagh:

I'm not saying my view is right Deputy but I suppose going back to my accountancy training, if, if you can't pay your debts when they are due, you are effectively insolvent.

And the ... you know, these institutions were rapidly running out of money. The forecast was that they would be €2 billion to €3 billion ... in Anglo's case it would be €2 billion to €3 billion negative in funding terms within 24 or 48 hours, and INBS was beginning to lose liquidity rapidly. And I suppose if you profile forward we know now and we know for a long time that these institutions required €34 billion of capital.