Mr. Brendan McDonagh:

Well I suppose that's what we're saying, is that once we pay off our €31.8 billion of debt, which is a senior and sub debt, the chairman has outlined here this morning that, based on the current conditions, we expect there will be a €1 billion surplus that will go back to the taxpayer, it won't go to the banks. But the banks took a €42 billion loss and that loss had to be covered by recapitalisation of the banks by the taxpayer. So, you know, everybody talks about the €64 billion that went into the banking system. Over €40 billion of that was accounted by losses related to NAMA's assets but also another €20 billion was related to losses in relation to loans, loans which never came near NAMA.