Michael McGrath (Cork South Central, Fianna Fail)
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So can I just put it to you, Mr. McCarthy, one of the key observations or criticisms that is made is that during the pre-crisis years, while Ireland was reporting, you know, budget surpluses in headline terms, that in reality when you strip out the cyclical tax revenues that there was a major structural deficit there as such. But are you saying that Ireland was actually complying with the structural balance requirements from Europe at the time, in accordance with how the structural balance was measured in harmonised terms during all of those years?