Brian Cowen (Laois-Offaly, Fianna Fail)

It was the Commission that insisted on the reclassification, so it understands the implication in terms of its addition to the current deficit figure. However, it also accepts that it is a non-recurring part of the deficit. It is a question of where it goes in the accounts. The underlying point is that we hope to reduce the deficit to 10.5% or 10.75% this year. Moving into next year, the Commission will want to see whether there has been a €3 billion adjustment. That is the underlying point the Commission has made, that if there are further payments or where they are reclassified, they would be dealt with in the same way.

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