Marc MacSharry (Fianna Fail)
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A tax anticipation note is something that has been suggested by the Greek Finance Minister in recent days. They are used at state level in the United States as a kind of IOU. If a state in America is in difficulty, it can say on the basis of tax that is going to be paid in the future that money will be ring-fenced to pay that debt. I believe that was the suggestion put forward by the Greek authorities in recent days. I am not talking about the current situation; I am talking about pre-2008. Were there alternatives? Had the Commission's range of thought processes and considerations considered contingencies such as this, rather than the blunt instrument which may be the prescription of austerity and budgetary cutbacks?