Mr. Paul Gallagher:

Well, I had been asked in November 2007 as to whether there was any impediment to providing ELA. It wouldn't have been my concern as to which bank was asking for it and I wasn't involved. We said there is no legal impediment to the Central Bank providing ELA. Of course, in providing ELA, as you know, it is subject to the statute of the ECB. There are ... I think it's Article 14 ... imposes limitations under the circumstances which ELA ... but in principle, so far as the Irish legislation was concerned, this ... it would permit the Central Bank to provide ELA.