Professor John McHale:

I do not wish to speak for the European Commission but the standard measure of adjustment includes new consolidation measures such as new tax and expenditure measures. Certainly the additional €600 million affected the projection for the deficit for 2014 so it included revision to the Central Bank income, a revision to estimates for interest costs. They are deficit-affecting. If one wishes to define "adjustment" as adjustments to the projection for deficit, it could need that definition of adjustment. Historically it has been very clear to us what the adjustment figure in the budget, the figures which we are familiar with over the past few years, means these new tax and expenditure measures which amounted to €2.5 billion.