Mr. Michael McNicholas:

If the State borrowed the same short-term money, it would be a difference of about €15 million. The State does not borrow short term; it borrows over a ten-year period. We would be getting funding out of a ten-year fund and the difference would be about €4 million between us borrowing at short term and the State giving us its more long-term borrowing. It costs about €4 million to €5 million.