Mr. Pádraig Ó Ríordáin:

Well there was no special regime so it would have fallen back just on the normal bankruptcy rules. But as I said that was true throughout Europe and also bank resolution regimes are very complex things to put into place and as I said, the European Union took five years to do it, which is just in place now. So I think two things to be clear; firstly there wasn't ... the resolution mechanism, that wasn't part of the policy and the direction was more a nationalisation and with the supporting liquidity scheme, the CLS scheme that we've been discussing.