Terry Leyden (Fianna Fail)

I welcome the statement by the National Treasury Management Agency that a €1.5 billion bond which was issued this week has been three times oversubscribed, which is an indication of the international confidence in our fiscal position. I also note that €1.4 billion was raised in the domestic retail savings market through prize bonds, saving certificates and the new national solidarity bond, which we promoted in this House. The national solidarity bond is taking off. It has been a considerable success. If we can raise more funding within the State for projects such as the Luas extension, it would be far more beneficial to the economy.

It is an endorsement that we have €16.4 billion already borrowed and available to the State. It is an indication of the confidence in the Government by the international agencies.