Mr. Conor O'Kelly:

It would be a policy issue in respect of pensions. I know there is a lot of discussion around pension reform, auto-enrolment and areas like that. As of now, no policy has been finalised that would come to us for potential participation or assistance in terms of execution. To go back to the Deputy's earlier point, if we put back in the value of the shareholdings in the banks plus the €8.9 billion, we are getting back up to €23 billion or €24 billion, close to where it was at its height, notwithstanding that it could have been invested in the meantime.