Ms Fiona Ralph:

On lending via the European Commission to member states, the scenario the Cathaoirleach is talking about is in the case of a sovereign default of a member state, which is why we are saying it is extremely unlikely. To my mind, there is no precedent for what would be done in such a situation and how the repayments would feature. When we agreed the legislation for the own-resources decision, which is the legislation where this 1.4% of EU GNI is set out, we took on board that it is a contingent liability we might have to cover financial liabilities arising for the Union. It is extremely unlikely to ever reach that point but it is something we have to be prepared for in the very unlikely case.