Mr. Derek Moran:

I think there are peculiarities to the Italian situation. There was an element of mis-selling to customers who thought they were putting their money in savings but were putting it in bonds and creating an exposure for themselves. There is a definite difference. It is a marginal difference. The Deputy referred to "sharp practice" in how some of the banks behaved. They mis-sold to people who believed they were saving but were buying bonds in the bank.