Ms Niamh Ní Bhriain:

They are focusing on the €150 billion in the SAFE in particular at the moment. That seems to be what they have gone for as the priority. It says that the Commission will be raising those loans on the international market. We have no idea yet where they will come from. At this point they are making their national plans. Each country is making a national investment plan. They will be adopted by the Council in January and they will start to disburse the loans. I presume that towards the end of the year they will have institutions that are willing to loan the money I have not yet seen any institutions named but maybe we are too early in the game for that.

The question that Deputy Conway-Walsh asked ties into this as well. At this particular point the countries are making their national plans. They will come before the Council in January. Ireland is on the Council. Ireland could, for example, vote against those national plans on a point of principle because this is not legally sound legislation.