Mr. Ronan Mulligan:

The EIOPA would probably say it is trying to deliver consensus and consistent application of standards across all the regulatory bodies through the colleges of supervisors and the other regulatory mechanisms it has. I am not sure whether the society has a strong view on whether that could be improved through the EIOPA, or whether the Central Bank has more of a role to play in terms of considering the application of the regulation in other jurisdictions. I think the insurance compensation fund will pay 65% of the value of claims. The issue is whether MIBI will pick up the tab for the other 35%. It is not that the decision would make the ICF defunct in some way - it is just that the balance of the 35% would essentially be picked up by MIBI. I think both-----