Mr. Marco Buti:

That ... and this is at the EU level with the implementation of the BRRD, which kicks off on 1 January 2016, but there is also decisions made more globally at the G20 level on the so-called TLAC, so that there is sufficient funds to make sure that these risks can be tackled without having a burden on the taxpayer which is unduly excessive, and the system that we have in Europe with the bank resolution and recovery directive, which requires 8% of the liabilities to be bailed in before public intervention is certainly a pretty tough conditions. The ... what we have now it is clearly a different legal and institutional setting that we had at the time. Certain choices that were made at the time would be made differently under the current conditions but the legal certainty and the much reduced risks of litigation is one of the advantages of the reforms that have been taken over the past years and, clearly, the reduction of the risks compared to the time wherein decisions were made in Ireland.