Mr. Brendan McDonagh:

In the 2010 business plan, the board referred to three scenarios. The central scenario was expecting close to €1 billion in profit but that assumes reasonable growth in 2011, 2012 and 2013. The board is now saying that we expect it to be closer to breaking even. If we repay all the senior debt, that is, the contingent liability of the State, what remains is the sub-debt that NAMA issued to the banks, some €1.5 billion. It depends on the assets that remain to meet that.