Mr. David McWilliams:

For example, I recall writing extensively. I appeared on John Bowman's "Questions and Answers" television programme in or around 2004 and alluded to the fact that all the commentary about Ireland was about a budgetary expansion at the time of approximately €3 billion. There was the whole budget thing and the Minister for Finance of the day was on the panel. I said the most important thing was not that €3 billion has been injected into the economy by the Government but that €23 billion has been borrowed in the same period by the private sector. The private sector was borrowing and injecting into the country eight times more than the budget surplus. In my mind, that would have been a moment.