Mr. Dermot McCarthy:

Not specifically, Deputy, but I think there was clearly a realisation that losses on the loan books of, at least, some institutions would probably materialise and that some restructuring and some unwinding of positions would be required and that this would have to be attended to with the stability achieved by the guarantee. I'm not sure that anyone proposed or voiced the view that a specific State recapitalisation would be required but some element of restructuring certainly was envisaged.