Seán Fleming (Laois, Fianna Fail) | Oireachtas source

The surplus is increasing. It is clear it has not yet realised that surplus because there is still money and debt to be collected. However, based on how it is going and its knowledge of what is to be collected, it is projected it will have a surplus of at least €3.5 billion. This is very important. When we had the Department of Finance in here some months ago as part of this debate, we asked about the use of these funds and I asked whether there were any EU rules on it. The answer is no because NAMA is unique at the European level. It is a once-off. While, as I read out earlier, the intention has always been to use such receipts from the resolution of the financial sector crisis to pay down our national debt, that is just the Government position, not an EU requirement. It is just the Government's intention. Europe is not telling it to do that. Let us be very clear. The use of the surplus is a matter for the Government, although it will probably have to clear it with Europe and Europe would probably love it to be used for that purpose, knowing Europe. I am just saying the Government is not required to do that.