Mr. Ajai Chopra:

No, it's not unusual at all. I think when the IMF deals with countries, with a few exceptions, they typically do want to maintain ... no country wants to default on its sovereign debt or restructure its sovereign debt. Sometimes, they're forced by circumstances to do this, if you look at the current programme discussions in the case of the Ukraine, the IMF is having with the Ukraine, the debt restructuring there was something that, you know, even the country authorities feel was important, and that is something that is being supported by the IMF. So, it's ... we don't have good mechanisms for sovereign debt restructuring and this is something that the IMF is also working on.

A few years ago, it floated the idea of a sovereign debt restructuring mechanism, SDRM, but it never really got off the ground. There are some other approaches that are being considered right now but I think, I think, you know, in hindsight, Ireland was certainly correct in wanting to, in wanting to meet its sovereign obligations.