Mr. Alan Gray:

I understand that, Deputy, if one interpreted that letter in isolation from knowing that earlier that day, we were informed that the main option being considered was a bank guarantee. I was responding to that proposition. And just for the record, I believed that the bank guarantee, which was a horrific and unjust decision on the Irish people, was the best option because of the restricted options that were available by the time we got to the night of the 29th.