Mr. Alan Dukes:

I don't think so. I got myself in bad odour with my previous party in 2009 for disagreeing with them both about NAMA and about the method of restructuring banks. It seemed to me that if you were going to wind down or cure the running sore that was distressed loans in banks, it needed some kind of a vehicle to take over the distressed loans, and that would have been the case whether you liquidated them or set out to wind them down, or whatever. There was a need. At one point, in fact, probably early in 2010 when we were just beginning the process of transferring loans to NAMA - which was going to be a difficult process - I remember raising the question, just for discussion, whether we shouldn't transfer all of the Anglo loan book into NAMA and close down Anglo. The tenor of the replies that I got - I never made it as a formal proposal, but I kind of floated it - the tenor of the replies which I got which I think was reasonable, was that that would have been far too big a chunk to put together. Having said that, as I said in my opening statement, I think NAMA has worked rather well.