Pearse Doherty (Donegal South West, Sinn Fein)
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Okay. Governor Honohan, I'm referring to your core booklets, Vol. 1, page 68, and the document is a memorandum for the Government, "State Aid Notification of Capital Support for Anglo Irish Bank, Irish Nationwide ... and [EBS]". It's dated 8 February 2010 and the final paragraph says:

The method proposed by the Minister to support Anglo and ... INBS through the issue of a Promissory Note is certainly not an avenue available for AIB or Bank of Ireland who are in need of further capital and may be required to receive this from the State for example through the conversion of the State's Preference Shares or further purchases of bank equity by the [National Pensions Reserve Fund]. This is because, unlike Anglo and INBS, the State would wish to demonstrate that the investment into the two banks was a commercial investment into viable institutions and the banks were viable in the medium-term and capable of remunerating or re-paying the capital injected into them.

Based on that statement, is it the view that at that stage, where the promissory note was being issued to INBS, that there was an understanding that, and Anglo, sorry, the promissory note issued to Anglo and INBS, that there was an understanding that both of those institutions were not viable in the medium term, unlike AIB and Bank of Ireland and the second thing is that they were not capable of remunerating or repaying the capital injected into them, which is stated here, that AIB and Bank of Ireland would be?