Paul Murphy (Dublin South West, Socialist Party) | Oireachtas source

In terms of the use of the word "de-risk", I agree that does get to it because, in effect, what happens is that the private investors are treated as the senior tranche and the public is the lesser. As such any losses incurred will in the first instance hit the public and, second, the private investment. Risk still exists. A project will either have risks or no risks on its own merits so that risk is being transferred from private to public.