Mr. Bernard Sheridan:

The Setanta Insurance case is not unique in the sense that there is a large number of companies selling in Ireland the headquarters of which are outside Ireland. I do not know how many are selling exclusively in Ireland, but I am sure a small number of them are doing so. On whether it is unique in terms of its failure, it is not because it was supervised by a supervisory authority equivalent to us and licensed by that authority. I do not make a distinction - I do not believe I can do so - in terms of whether it is supervised by the authorities in the United Kingdom or Malta or wherever else. It is a difficult question to answer. About what are we talking precisely? Is it the model, the European framework or the fact that it was selling only in Ireland?