This statement is to be considered an introduction in the event that the Banking Enquiry invites Governor Honohan back to expand on his views on what alternative courses of action the Government might have taken in September 2008. Governor Honohan critiques the decision that was made, noting, amongst other things, the costly nature of guaranteeing subordinated debt, and the failure to consult.  The statement is concluded by reference to the importance of maintaining perspective on the decision ultimately taken in September 2008.