Professor Patrick Honohan:

There were three motivations. One was, obviously, to answer the point we have just discussed about the powers, which I was required to answer. The other purpose was that I was not satisfied when I came away from the meeting, spoke to some people and read newspaper reports suggesting that my evidence on the guarantee had not really been understood in the way I had intended. People asked me whether I had really changed my mind on this. I replied by asking what they meant. Then, I went back, looked at the transcript and listened to it. I realised that it is not clear. What I said was not clear. I interrupted myself, as I do, all the time, without finishing sentences and by being too colloquial. I said to myself that it was not clear but it was what people were going to refer back to. I said I had better give myself a little time. I am sorry if Deputy O'Donnell thinks it was delayed, but I took the view that the committee had a lot of evidence coming to it and that there would not be a rush on this. I wanted to get it out because it is important. A lot of the questioning focused on that particular date as did a lot of the interest of the public. I am supposed to have talked to all the people and read all the documentation and, therefore, I should know something about it.

The other thing is the little note I made about Mr. Doyle. Mr. Doyle did contact me. He asked me when we talked about that. I started to wrack my brains and wondered whether I actually talked to him about that letter or was it that I had already formed a view of what his opinion was. Then I realised I was unsure whether I talked to him. The impression is definitely given in the transcript that I had talked to him after I saw that letter. I thought that needed to be corrected. I absolutely-----