Michael Noonan (Limerick East, Fine Gael)

Yes. We found out yesterday that it is no longer a given but another moveable feast. It was presented to us as an absolute certainty yesterday that the correction over four years would be €15 billion. We have been working on this information. Furthermore, there was an attempt to browbeat the Opposition into agreeing to the figure. We met the Commissioner yesterday and he said new arrangements in Europe are such that growth rates must be assessed annually and that the figure of €15 billion must be renegotiated with the Irish Government annually. It could go up or down. Our first revision will be on 29 November, which is three weeks away. The body language I noted was that the Commissioner might be marking it down on that date. How can the Minister come in here with his innocent demeanour and give us assurances when every time he does so the figures move within a couple of days?

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