Pat Rabbitte (Dublin South West, Labour)

If the Deputy does not mind, I will fail to spring it. The reason it is a case of festina lente is market circumstances are such that no one would wish to go to the market with State assets. The reason we are going to the market is the memorandum of understanding. The House has seen what has been enforced in Greece in the disposal of state assets. When one considers the menu of State assets in this country, as detailed in the Colm McCarthy report, one comes back to the energy sector. There are several other areas in which one could seek to realise a sale, but the proceeds would not make a great impact on our mountain of debt. Therefore, one comes back to the energy companies. The approach the Government has sanctioned is to seek a compatible investor at the right time, for example, something like a pension fund, to take a minority stake in a successful, vertically integrated utility in Ireland which is profitable, pays a dividend, is creating employment and a major player in securing our energy supply.

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