Mr. Brendan McDonagh:

I do not think that the so-called vulture funds would be the people to buy that portfolio because they would see it as capping their returns. There could be a solution in finding a different kind of investor to buy that portfolio from the banks. An insurance company, for example, might come in to buy a portfolio of €16 billion loans for the price of €5 billion. It might decide to take a longer-term view and work it out over time, settling for an income of 4% to 5% per annum. There is nothing that cannot be done, Chairman.