Mary Lou McDonald (Dublin Central, Sinn Fein)

Whatever about the generalised understanding, was it not very unwise to make a concrete commitment for the sum of €2 billion before, at a very minimum, securing that understanding with the troika? I am opposed to what the Government is proposing to do. I think it is crazy. In the medium and long term it does not add up. However, even accepting the Government's rationale, the Minister has gone about matters in a most bizarre way. To concede that we would enter into a programme of privatisation and to concede a figure of €2 billion, with €5 billion echoing in his head from the troika, without having first had the conversation and hammered out the deal that some or all of the proceeds would go into job creation seems to be an inept approach.

The ESB has always been in a position to raise funds internationally and to upgrade and invest in its infrastructure. Can the Minister confirm that to the House, and to some of his party colleagues? They seek to ignore the view that this is a profitable company with international prestige and a borrowing capacity. They appear to view it as a type of shackle on the Exchequer. The Minister needs to make clear as this debate advances that that is not and never was the case.

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