Joe McHugh (Donegal, Fine Gael) | Oireachtas source

I have a few questions. Some of the members may like to come in as well. I thank Mr. Murphy for his contribution. The perception of auditors and accountants is that they look at and stick to the numbers. Now that he has anointed himself as an ambassador for all things, I will try to tempt him to get into crystal ball territory, although I know this will be difficult as well. I ask these questions against the backdrop of the energy crisis, unemployment risk, the post-pandemic situation, Russia's aggression and ongoing Brexit fallout. On the budgetary risks within the EU, and I am picking out several figures from the material I have, contingent liabilities have increased by 111% in 2021. We are moving into speculative territory regarding 2022 when we look at the 2021 report, but, for example, Ukraine, even before the war, having had outstanding loans with a nominal value of €4.7 billion, along with an EIB grant to the value of €2.1 billion. This was supported by an EU guarantee. This contingency risk also includes two other figures. The Support to Mitigate Unemployment Risks in an Emergency, SURE, scheme, amounts to €50.2 billion. I refer as well to the bonds in the context of Next Generation EU, NGEU, support in response to the pandemic as well.

All these inherent risks exist. Where does Mr. Murphy see the main risks coming from in future, at a finance level, without going into the reasons? I am thinking of our national situation, where we are dealing with an ongoing asylum issue as part of the response to the situation in Ukraine. People in my constituency are asking who is paying for this. I ask him to give us a wee bit of clarity around the contingency risks in this context. I am conscious as well that we are now a net contributor to the EU budget and, ultimately, we could all end up paying for many things. I would like his opinion concerning all these areas and then I will have a final question.