Mr. Tony Murphy:

It is a fair question. As I said at the start, we find pressure on some member states to spend money at the end. Generally, they get there. Whether it is the most effective use of the money is another issue. Generally speaking, if you look at the absorption rates, they are very high. Ireland is generally very good at getting EU funds. It is at 99% with the ESF funds and does not have an issue there. The RRF was very slow and still is a bit slow. The BAR was another fund where some of the money was transferred. They have not lost anything. I think they transferred €150 million from the RRF to REPowerEU. The RRF is quite slow, but it is slow across the whole of the EU. This was based on plans designed in 2021 or 2022. Things have changed. There were also issues with being able to deliver on the milestones and targets they set within the plans. I do not know what is going to happen. As I mentioned, with the new MFF the absorption is something like 10%. We are already almost at the end of 2025. You see in the latest MFF review that the Commission is in a way proposing to move that money towards defence-related expenditure. If you look at our cohesion review you find that cohesion is always used for emergencies. If something happens that is the pot they tend to go to, to take the money. We are saying that there is a risk they do this so often that the actual objective of cohesion is being diluted.