Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Mr. Drury, in a presentation to the board of Anglo dated 26 September 2008 - shortly after you left the bank or not too long after - entitled "Strategic Options", David Drumm notes that the market sees Anglo as a monoline bank with concentration risk in commercial property and he proposes a merger with IL and P which would create a more diversified business model. In your opinion, did the fact that Anglo was considering a merger with IL and P at this time indicate that the business model pursued up to that point had failed, or not?