Mr. Michael O'Flynn:

Well, I don't accept that. I think Mr. Lenihan had the option at the time of working it out, you know, through the banks. They were ... the UK model was ... they set up an insurance scheme to cushion the blow, because there was quite an impact on the UK as well. So my view is that what we ... the solution here made the problem bigger, and if you look at the recovery, it was meant to put money into the system. We're seven years on, or whatever number of years, and we still haven't got the money into the system. I mean, there's still a very, very tight functioning banking sector.