Pearse Doherty (Donegal South West, Sinn Fein)

I understand that and agree with the idea of providing money at cost. Obviously, the EFSF should not lose out as a result of. However, if one looks at the line written above which is to change, it reads: "the third sentence shall be deleted and replaced by the following sentence:"The pricing which will apply to each Loan is intended to cover the cost of funding" [which is fair enough] "and operations incurred by EFSFand shall include a margin (the "Margin")." I realise the Minister mentioned two elements, but this legislation allows for a margin. At present there is no margin, only the operational costs and the costs of funding. However, the first piece I read to the Minister referred to remuneration for the guarantors and the fact that it could be amended by unanimity among the guarantors. For the purposes of clarity, can the guarantors sit around a table and decide that the pricing structure which would be beneficial to the State can be amended by agreement among them within a year or so, or is the positiion now fixed for the entirety of our current programme?

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