Mr. Dermot McCarthy:

I think the core point was that the business model was not one in which the market had confidence and this was separate from solvency. In fact, there were, as the committee has heard, strong assertions from the regulator that the bank was solvent. But the question was was the negative sentiment towards it creating a negative overspill across the rest of the system. So being seen to engage with that, address it and, in a sense, send a message that restructuring of some kind would occur was, I think, the attraction.