Pearse Doherty (Donegal South West, Sinn Fein)
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That is fair enough. I would like to focus on another aspect of this issue before I ask some other questions. We have seen the situation in Cyprus. I know we are dealing with the here and now in terms of the banking situation. At a later stage, the stress tests may or may not show that additional capital is required. When the ratios increase as a result of future directives, the banks may need capital. What we agree now will be implemented in the future. We do not know where the banks will be. We do not know what the position will be in such cases. We have seen the situation in Cyprus. When the ESM did not recapitalise the banks, there was a bail-in of bondholders and depositors over a certain limit. Is it Ireland's position that the ESM should recapitalise banks before depositors are asked to contribute to the recapitalisation of banks?