Cormac Devlin (Dún Laoghaire, Fianna Fail)
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I thank the officials for attending this afternoon's meeting and for their opening remarks, which are much appreciated. Obviously infrastructure is a key issue facing us domestically. As I listened to the remarks, I was struck by the downward projections, particularly vis-à-vis the tariffs. While we have a welcome reprieve from the tariffs for a few weeks, and hopefully longer, they are having an impact globally. That is no different for an open economy such as the Irish economy.

I will ask about the outlook of the Central Bank and that of its European counterparts. The discussion on the tariff rate that will be settled on has been ongoing since about January of this year. I ask the officials to enlighten the committee on the Central Bank's perspective and that of its European counterparts on how that discussion has impacted on projections for each country across the EU.