Mr. Ajai Chopra:

If the backstop had been used ... well, you know ... well, first the backstop would have to be granted. You know, the ... If there were negative shocks that ... at that point, having the backstop would be an advantage. You wouldn't have to negotiate a new programme. So from that context, you know, it's sort of like insurance. But what the Irish chose to do was more or less to self-insure by building up their cash buffers. This is not unusual for countries to do.