Michael Noonan (Limerick City, Fine Gael)

I am not saying that as precisely as the Deputy is putting it. I am saying there are two targets: one is a monetary target of €3.6 billion and the other is a deficit target of 8.6% of GDP. To try to get the two of those aligned is what has to be done. Already, the target we have provided to Europe would get us to 8.6% with an adjustment of €3.6 billion, and there are other estimates which are slightly north of that. The IMF estimates that an adjustment of €3.6 billion would get us to 8.8%, so, while the figures are very close, there is a slight variation.

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