Mr. Tony Cotter:

I am unsure whether we will agree on the point. Anyway, we see the European Union spend as complementing our national spend. Given the size of the European Union budget and the areas where it can get involved, such as the infrastructural and other projects to which I have referred, it is an important spend for developing countries. This is because developing countries, as well as requiring support in respect of their social sectors - which, by and large, we concentrate on - must also have the benefit of the infrastructural spend on the roads, railways, bridges, customs facilities and all of the other areas which make them more attractive for foreign direct investment. We see the two spends as complementary rather than being in opposition to one another. I am unsure whether I can go further than that.