Mr. Peter Fitzgerald:

No, because I don't think the extent of the losses that ultimately came about on those transfers across to NAMA, which I think were €21 billion ... until they came to light, with fresh eyes on the risks that the bank had undertaken and the credit assessment of the recoverability of the loans that had been made over the previous five-ten years, I wouldn't have had any foresight that that level of loss could have been perpetrated by the bank on the lending side of its activities - genuinely.