Mr. Brian Cowen:

Well, you were hoping that you wouldn't have to put any money into the banks. For example, if it was to be a recapitalisation, that they'd get it from private sector sources. But that was all dependent on when was this thing going to end and when was sentiment going to change. And when it did come, within two months we had committed ourselves as a Government to a €10 billion programme and that was on the basis, of course, that we would be getting a shareholding, a value that would have an upside as well in terms of how the warranty was set up and all the rest of it, that we'd get money back in the immediate term as a price for that and we'd get back money in the future were they to come through it and improve their situation. So again, Deputy, it was a moving situation. It is true to say - I have to say this I suppose to you - that the immediate priority was get money into the system because if you don't get money back into the system all of this becomes academic in the sense that all illiquid banks become insolvent. If you can't get money into the system... You know... So unless you achieve that first, your problems are going to increase and your commitment to trying to keep a banking system is going to increase. So that was your first point. Eventually then you're going to have to get to a recapitalisation phase and a restructuring phase. You're hoping that you'd have a private sector solution to the recapitalisation phase. If you haven't, obviously, the Government would have to step in and take whatever levels of ownership were appropriate and still have the prospect of them getting private sector investment by not going for total nationalisation, if you could avoid it, or, ultimately, go to a nationalisation, if confidence has increased-----