Brian Cowen (Laois-Offaly, Fianna Fail)

Anyone with a cursory understanding of the current financial situation in the country will understand we have to operate within the budgetary and financial parameters set out by the Minister for Finance in respect of the budgets he has outlined to date and this will continue to be the case. The Deputy refers to what the Governor of the Central Bank had to say today. We must listen to the advice of the governor take it into account. He made the point he believes a credible convergence path is being embarked upon by Government to deal with the question of closing, over time, the deficit borrowing requirement which has opened up. This has been reconfirmed in the newly agreed programme for Government.

In answer to the Deputy's questions, the priorities and initiatives that will be proceeded with and pursued by the Government, following the recent discussions we have had with our partners in Government, will operate under the same financial parameters which the Minister for Finance has already set out.

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