Brian Lenihan Jnr (Dublin West, Fianna Fail)

-----compared to the rate of 5.8% at which we will borrow under this facility.

The agreement provides the terms of a facility under which Ireland can choose to draw down moneys. A future Government is not obliged to avail of any drawdown. Therefore, future executive action of Government is not fettered nor is the legislative freedom of the Oireachtas. Furthermore, a future Government is free to seek moneys from a different source, including the market. My point is that any putative government opposing this joint programme has a duty to set out for the electorate its alternative source of funding for this country over the next few years.

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