Mr. Pádraig Ó Ríordáin:

Yes, Deputy, and in general terms, yes. So what happened was when the troika came in, the troika required that the banking sector would be reorganised in a sustainable manner. And at that stage, INBS, for example, was still out on its own as an entity and it needed to be resolved. It needed to be put on a footing that actually was sustainable in the longer term. And the decision was made to roll that into Anglo to form IBRC and that combined essentially perhaps the two most troubled banks. So the purpose of that at the time, certainly as I understood it and as, I suppose, we executed it or helped execute it, was that the ... that the idea was to reform the Irish banking sector into the two pillar banks, Bank of Ireland and AIB. And then EBS ... then ILP as a third bank, which actually had a potentially sustainable future. So I have to say that I would see logic in that because clearly something had to be done with INBS and EBS too was a very, very small institution at that stage and clearly also was troubled.