Eoghan Murphy (Dublin South East, Fine Gael) | Oireachtas source

You said you thought you were attending a briefing ahead of a Cabinet meeting the next day, and Dr. Michael Somers, when he was before us ... gave the following evidence:

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.

So, how do we go from the possibility or from possibly guaranteeing €10 million, €10 billion to keep Anglo open until the weekend, to guaranteeing absolutely everything in the Irish banking system?