Ciarán Lynch (Cork South Central, Labour)
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I thank Mr. Moran for his opening statement and for his kind words to me. I understand this is the first occasion on which he has come before the committee. On behalf of the members I wish him and his team success into the future. Mr. Moran is due to meet the Economic Management Council later this afternoon, so we are somewhat pressed for time. I intend, therefore, to be strict in the context of the time allowed for members' contributions. Those asking the first round of questions will have 12 minutes each. I call Deputy Michael McGrath.