Pearse Doherty (Donegal, Sinn Fein)
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May I refer to section 6? On section 6, with regard to the report on the loans made available and the money coming back from the single resolution board, I am interested to know how the funds that will be made available by the State to the board will interact with the fiscal rules. It will not be dealt with as expenditure so it will not impact on the expenditure benchmark, because it is a loan I assume. It will impact on our debt to GDP ratio with regard to the rules on reducing the ratio. I would like to hear how the outworking of all of this would impact on the fiscal rules. If, on a given day, we had to make available €1.815 billion how could it potentially impact on our deficit and the rules on deficit reduction?

While it would not impact on the structural deficit, it is interesting to note that other issues that have not been identified could become a major concern if the loan mechanism were ever triggered.