Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

That is not the issue. The issue is the criteria that will be applied by the two pillar banks. If the wrong criteria are applied it will be pointless. For example, Glanbia, Finance Ireland, Rabobank and the Ireland Strategic Investment Fund, ISIF, had a similar fund of €150 million. The concept was great but I spoke to farmers who did not meet the criteria, which were based on milk prices for the previous 12 months, and as we know the price collapsed. There were certain boxes that had to go green versus red and they all went red. The money was not given out in particular areas where it was really required. If the same structure, which is very prudent banking rules, is applied here the money will not be given out. That would make it a pointless exercise.