Dr. Michael Somers:

Well, if it was up to us, we wouldn't have put any money into them because that was not our remit. The legal obligation on us was to maximise the return we could get on the pension fund and we did not see putting money, putting €3.5 billion ... first of all, we would never have put a sum like that into any entity. I mean, we had the pension fund well spread over all kinds of asset classes. There was no way we'd put €3.5 billion into anything. But we certainly wouldn't have put €3.5 billion or anything approaching it into an Irish bank at that stage.