Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. Can I ask you about the establishment of NAMA? And, as you know, it was announced first of all by the then Minister, Brian Lenihan, in April 2009, but the legislation was not signed into law until November of that year, so there was a delay because of the legislative process that had to be gone through. So can I ask in the interim phase, can you describe the impact on the relationship that you would have had with your existing banks at that time, the impact on the impending establishment of NAMA, and the prospective transfer of your loans across to NAMA? And did that time lag have any particular effects on your business during that time? And, of course, it came at a time when property values were collapsing.