Brian Lenihan Jnr (Dublin West, Fianna Fail)

It is interesting that the credit default swaps with regard to Ireland narrowed dramatically in the past week or two. The market judgment in that particularly speculative market — a market for which I do not have great regard, although it is worth noting since it was recited at length in the House in recent times — is that these particular instruments have now narrowed where Ireland is concerned, and, therefore, the level of speculative, crazed gambling on the future of this country has disappeared somewhat. One of the reasons it has disappeared is because of the recent visit to Ireland of the President of the European Central Bank and the clear and unequivocal position he took that Ireland is a member of the eurozone, like any other member.

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