Mr. Gerry Murphy:

We have assisted Dublin City Council by funding some economic advice provided to it by KPMG. I do not think the council has been negotiating since 2009. The negotiations really started in earnest about 12 to 15 months ago. There was a gap and then the negotiations started again. It has been slower than we had hoped. We set aside money last year and were disappointed that the negotiations did not reach a conclusion last year. We understand that they will come to a conclusion within the next three months and we will have confirmation on whether JCDecaux will agree to an extension to the scheme or not. If the company does not agree to the extension, then we will have to examine the situation again. We may have to consider a parallel bike scheme that we will develop ab initio ourselves and fund that for Dublin City Council.