Mr. Michael Walsh:

I mean, to be blunt about it, I'm absolutely astonished by his evidence, or at least by that statement, because, you know, it was he who actually sent the e-mail to Mr. Beausang in the Department of Finance, effectively, that day, saying the society had €3 billion and that the outflow from the society at that stage was €30 million, so a multiple, because the reality is that once the guarantee level had been increased to €100,000, the outflow from the society in terms of deposits actually went down dramatically. I think in the earlier part, before that increase, there was substantial outflows which would have caused serious concerns in the middle of September. Once, I think it was 20 September that the increase in the guarantee went to €100,000 that largely stopped. As I said, the specific e-mail, which, as I say, was sent from McDonagh to Beausang, says the society has €3 billion, the outflows are €30 million. They are, for all practical purposes, in no immediate need of cash. They may have a need in December and they may not. Now, if somebody is saying they have all the cash they actually require, there is no short-term problem, they have potentially an issue coming up in December but we don't know at this point in time, they may or they may not, I would have said it was pretty much irreconcilable for that and an insolvent situation to be put together. I just can't rationalise it, to be honest.