Mr. Tom O'Callaghan:

Let us be realistic. At the moment, it costs approximately €70 million plus to run the network so we need to come up with a revenue stream that will sustain it. Currently, we are very dependent on the Government contracts which are actually depleting. If we look at the figures of where we are now, we are looking at a significant shortfall. Therefore, how do we fill that gap? The New Zealand Government, for example, looked at whether there was a way of creating a model that returns money to the post office network in a way that can be brought back to the local community. Last year, it turned over [figure inaudible]. The reality is that this would open it up for other business and other transactions. Currently, postmasters who have a deal with Bank of Ireland are upset because they still do not know to this day what they are going to be paid. While I would welcome the business, it is really going to be like getting crumbs off the table. We need to look at a business model that will generate the revenues to make the network viable. To me, that is what it is about. Let us be clear on this - if we were to create a bank, we could make a return to the community.