Professor Irene Lynch Fannon:

Yes. By some European countries we are talking about the UK, which is a European country I suppose, but in the last two years there has been a reconsideration of that because it has been found that the protection afforded to revenue debts is important. Nevertheless, the preferential status for employee payments was retained. We have that in Ireland in section 621 and the various subsections I have mentioned. There is preferential status for some wage payments, holiday payments and so forth. There has been discussion this morning on guarantee funds and usually payments are made out of the employer's insolvency fund and that fund steps into that priority status. That is the guarantee-type scheme Mr. Hurley has mentioned.