Dr. Michael Somers:

Well, I would have looked to see what was the problem - is there going to be a rush? I mean, I don't know why, if its true, that the two main Irish banks were prepared to pony up €5 billion each, for whatever period, provided they got a State guarantee, I don't know why that wasn't followed. If that is ... and that ... I've been told that that's what the scene was. Now, how that changed from five or six in the evening to guaranteeing everything that moved by three or four o'clock in the morning, I don't know. And, as I say, I think its a bad idea taking important decisions in the middle of the night.