Pearse Doherty (Donegal South West, Sinn Fein)
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The bank has been meeting investors for quite a number of years to get the bank ready for sale in the first quarter of next year if it is sanctioned. Is Mr. Duffy surprised that the Minister for Finance is telling the committee he will apply for retroactive recapitalisation for the bank? If this were the case, it would be a transfer of the shareholding the State holds to the European Stability Mechanism. Is Mr. Duffy surprised these discussions have not taken place? I am actually not surprised, because I do not believe the Minister will do it. I would be surprised if the Minister were intending to do so, and telling us he will make an application and it is a matter of timing, but not speaking to the CEO of the bank who is speaking to investors.