Professor Patrick Honohan:

Yes. In fact, the previous weekend, the day-by-day projections indicated that they would be in deficit to the extent of €0.1 billion on the Tuesday, whatever day it was. When it got to the day before, they then thought they would be over €1 billion short. It was clear that they would not have enough cash, but that meant they would have to get emergency liquidity. Other banks in Europe were getting emergency liquidity.