Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Go raibh maith agat agus fáilte. Can I ask you, Mr. Gray, in minutes you provided to the committee from the Central Bank board, and in your statement as well, we see that the issue of the six-bank guarantee was raised? And a copy of the same minutes that this committee has access to - the reference from the secretariat is core book, John Hurley, Vol. 3, it's on page 33 ... and we see that the Governor told the board, which you attended, of the need to get the two pillar banks on board with the idea of a six-bank guarantee ... and that the Governor went on to say that he would need to talk to the two banks "who to date have been negative on such a proposal". You go on to say in your statement, on page 17, that "there was no suggestion at any time of any option to guarantee some banks but nationalise others, yet we know from evidence from AIB and Bank of Ireland that this was their preferred option ... of those two banks. And, obviously, we know from the board minute that you were informed that AIB and Bank of Ireland were not on board with the six-bank guarantee option. So, what then was the discussion around the need to convince the two pillar banks of the necessity of a six-bank guarantee?