Mr. Ed Farrell:

One could argue about the €12 million one. The deposit guarantee scheme exists throughout Europe and Ireland for every bank, building society and credit union. If one of them fails, the money comes from that scheme. This resolution fund was set up and has not really been used. A stabilisation one has been set up and it is only for credit unions within a very small bracket. It has not been used yet and I do not think there is any real expectation that it will be used. It was a sledgehammer to crack a nut to set up these multi-million funds. Despite the movement maintaining there would be no contagion and that the credit unions would be able to handle it themselves, the money is being taken out of the credit union movement. We cannot even plan ahead; the individual credit unions cannot even plan in their cashflows because we cannot even get answers as to when some of these are ending or being reviewed.