Mr. John McCarthy:

It is absolutely right that there should be a constraint on borrowing, but if we identify that we have needs in a particular area, funnily enough, the rules say, "That is grand, but you have to finance it." It is perfectly plausible to me, especially when we have a debt ratio on a GNI* of 100% or €201 billion, to be exact, that one should not finance this by issuing more debt. If we decide that we have needs in a particular area, be it infrastructure or whatever, as I mentioned, we are doing it but we have to be able to finance it. That is not unreasonable.