Mr. Seamus Boland:

Let me be very clear. We are talking about a public banking system. The clue is in the word "banking". It is exactly what it is: a banking system. It should be remembered that Sparkasse is not insisting, and never did, that we adopt the German model absolutely because that is not possible. What we need to do is adopt the Irish model of public banking. We are very clear that it is a banking system.

We proposed eight regions. We talked about synergies with the credit unions, An Post and whoever else. I think everyone would step up to the plate from then on, but it is a banking system.