Mr. Mike Aynsley:

But, of course, you know, the business ... at that stage, you were seeing a flight of deposits out of the country but not compared to what we were going to see. You had seen the market fall significantly and I spoke at the beginning about the expectation at that ... middle of the year there was a 20% haircut on NAMA assets, by year end it was 30, it ended up being 58 overall. Just the extent of what was unfolding hadn't really struck a lot of people. And bear in mind, a lot of people hadn't ... in Ireland ... hadn't been through this type of crisis and no one really in major jurisdictions had seen the extent of what was going to happen.