Mr. John McCarthy:

From our side, Deputy Brendan Ryan asked if it could be accommodated within the fiscal rules.

It all comes back to whether such funding is on or off the balance sheet. If it is included on the balance sheet, then the expenditure will need to be met by reductions elsewhere or by higher taxation and so forth. The fiscal rules are absolutely clear on this. If it is off the balance sheet, it can proceed.

Approximately two weeks ago, with the AIB transfer and so forth, we saw that EUROSTAT is becoming increasingly intrusive in terms of the on and off balance sheet types of classifications. There have obviously been some issues in that regard in the past, not just in Ireland but in every country. It is a difficulty. As I say, EUROSTAT is becoming very intrusive. Moving expenditure off the balance sheet is becoming an issue increasingly for all member states.