Mr. Tony Murphy:

The Chair has raised an important issue regarding the contingent liabilities increasing. It is probably only going to increase further. Deputy Howlin asked me the last time I was before the committee whether I thought this borrowing frenzy, if we wish to call it that, would stop and whether it was a one-off situation. We have seen now, though, from all the latest developments that there is a general tendency to borrow on the market rather than to ask member states to increase their contributions.