Mr. John Corrigan:

It crystalised probably from 2007 onwards, starting with the issue of the placing of deposits which would have been, if you like, where our internal discussions would have kicked off in the context of our brief which was the management of the Exchequer balances. And then, as we got drawn into the controversy or the crisis in September 2008, which was when we attended the very first meeting with the Central Bank, I think it would have been around then that the view crystalised that it was a broken model. As I said, the collapse of Northern Rock would have been strongly supported. Anecdotal evidence of what can happen in those circumstances.