Mr. John Corrigan:

They, they didn't have an issue with the junior bondholders and, as Deputy McGrath pointed out, in fact the subsequent savings were of the order of €5 billion, as envisaged in this paper. But they had an issue of principle, and, as I said already, which issue of principle we couldn't understand, given the Deauville declaration, that, in fact, sovereign bondholders would be subject to burden-sharing.