Mr. Paul Gallagher:

No, the guarantee was subject to terms and conditions. I suppose what you would have is you'd have people who lent money perhaps making claims against the Government on the basis they did so on foot of representations. But, more particularly, I think the issue always was what would be the effect on the financial system. And for a Government to renege on what was clearly a statement intended to quieten the markets would have had very serious consequences and presumably, though it's not a matter for me to say, the very consequences that were sought to be avoided on the night of the guarantee.