Bernard Durkan (Kildare North, Fine Gael)
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I agree with the Minister for an obvious reason. There is a certain amount of turbulence in those markets and also in the financial markets. By way of comparison, the UK, as opposed to the European Union, moved into that area recently and then withdrew from it quickly. It made two or three attempts to do so. One thing we do not need is instability or doubt. The situation that has prevailed has worked well. Every effort has been made.

I know gaps will be found in the provision of assistance and so on but let us compare that with the 1970s when energy supply dried up. We seem to have forgotten that. Supply dried up and we had no energy at all. We could queue for as long as we liked with tin cans to collect motor fuel. The reason for that was some countries in the then European Economic Community did not want to pay the higher prices. A question arose as to whether the better option was to have supply at a higher price or to interfere and have no supply. I believe the decision by the Government is the correct one at the present time.

We live in difficult times. I do not know if that is generally recognised. The Silicon Valley Bank domino effect is in the marketplace. It will affect everybody in one way or another, to a greater or lesser extent. How countries across Europe handle that situation will be hugely important. At this stage, we should pursue the strategies that have worked so far in the present climate and wait for something that may or may not happen. It is a thorny situation to be in. That is my belief based on referring to the past and looking at what happened across the water in the UK.