Mr. David Gantly:

Well, one, I wouldn't have been aware of it and I wouldn't have known what analysis that they were forming that on. I mean, clearly, if you're talking about business models, we're very different organisations. I mean, my sense ... and, again, you know, markets ... a huge part of markets is, kind of, confidence and rumour, but, like, post-Lehman, the talk globally was, you know ... I suppose, I was thinking ... you say to people ... everybody would say to you, like, "There's a big liquidity problem out there but we're fine", and that doesn't actually ... that doesn't stack up. So my sense at the time, and, I think, the regulator's actions on, I think, it was 20 September or post the meeting on 20 September when they increased the retail deposit from €20,000 to €100,000 ... I mean, clearly., that was reflective of the fact that there was ... there were liquidity issues but my understanding would have been that those liquidity issues were there for all of the banks.

I can only speak, obviously, to Irish Life and Permanent's position. We certainly experienced, you know, some run on ... "run" would be probably too strong. I mean, we had corporate customers who would have been non-Irish who would have rolled over their funds so they might place one-week money with you or they might place overnight money, but they could do that for 365 days a year. So that's, kind of, was the nature of the business. So we did see in the two weeks, say, up to the guarantee, we saw some of that money not being renewed, particularly, I would say to you, the overseas element to it, but it wasn't huge. But, I mean, obviously, the issue was ... and you're saying, "Well, if this continues." And, as I said, post-Lehman, it was just the heat really just seemed to get turned up. You felt something was just going to give, yes.