Mr. John Moran:

The first question is one of timing. The first precondition to a real discussion on any direct recapitalisation is the establishment of the European Financial Stabilisation Mechanism, EFSM. It will be in place at the end of this year. The earliest date at which one can see any meaningful result will be once that is in place and, I suspect, once the results of the stress tests are known and other countries consider how to bring the EFSM into operation.

Originally, we took great care to have written into the relevant documentation an acknowledgement that some situations, most notably from our perspective our situation, should be retrospectively or retroactively – I am never sure which word is right – examined on a case-by-case basis to open up the door for a discussion on-----