Brian Lenihan Jnr (Dublin West, Fianna Fail)

First of all, this is not a normal position. Deputy O'Donnell refers to billions of euro of investments. The NTMA issues bonds worth billions without reference either to me or the House. The State must engage in commercially sensitive operations. The lending of money by or borrowing for the State is a commercially sensitive operation. I do not arrive in this House and ask for prior clearance for the NTMA to engage in such borrowing.

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