Eric Byrne (Dublin South Central, Labour) | Oireachtas source

I thank Mr. Callinan for his report. I assume his team is as enthusiastic about the progress that has been made over the last two years as we are in government. It must be very satisfying for the witnesses, as a team of men and women who have endured 14 years of economic decline - plummeting to the extent that we needed a bailout and lost our sovereignty - to experience the hope that at the end of the year we will be out of the programme. We note from the report that there are still many issues to be resolved. We are on the way there and the grass is certainly growing greener for the nation. If we can keep on track, we have substantial prospects of prosperity into the future.

I do not know if it is permissible to ask this question, but do the witnesses have an opinion on, for example, the enthusiasm of people such as Wilbur Ross, who has invested heavily in Bank of Ireland to the tune of €1.1 billion? That is an indication of investor confidence in Ireland. Those familiar with local government will have been happy to learn that the company, Kennedy Wilson, which has €3.5 billion in assets and is acquiring assets throughout the country, intends to invest in the city library project in Parnell Square. Outside investors are coming into the country. When one hears them interviewed on radio, they are excited and enthusiastic about the economic prospects of this country. I hope the witnesses are happy in their work in that, following 14 years of misery, things are slowly turning around and we are on a rise as we move towards the future. Do they have an opinion on when Moody's might move in respect of the junk status it has applied to our debt rating and reinforce the real status of our economy?