We have come a long way, through reworking the structure of the Bank to reflect function rather than historical hierarchy. Last but not the least. I would like to thank my fellow Board members for their support during the past 12 months. Our Board is active and involved.
This may well have influenced their willingness to acquiesce in the subsequent arrangements around the liquidation of the relevant institutions in early 2013, arrangements which had considerable financial advantages to Ireland. Restructuring and engineering It should be clear that bailing-in unguaranteed creditors of a failed bank is entirely different from restructuring of Government debt.