Brian Cowen (Laois-Offaly, Fianna Fail)

This agreement is in compliance with our Constitution. Draw-down facilities are available on an ongoing basis.

These specific facilities are being provided at rates which are far less than the normal source of that funding, which is the international money markets. From the point of view of the country's stability, it is important that we avail of these funds. To those who criticised it, I have repeatedly asked what their alternative is. The luxury of being in opposition, however, is that they do not have to have an alternative.

See this speech in context