Professor Patrick Honohan:

I think it was drive and energy. This question was raised earlier by Senator Barrett. At that stage, some of the decisions had to be taken by the Government and the Department of Finance was representing the Government. The question arose of who was going to pay for all of this. A Government guarantee was a matter for the Government. It was natural. Legislation needed to be prepared and that was a matter for the Government and, therefore, the Department. However, it is striking - this was why we noted it - that the Central Bank and the regulator were in the back seat. They were not pushed into the back seat; it de factoseemed to be the situation.