Billy Timmins (Wicklow, Fine Gael)

I agree with the Deputy that latitude has been given to refer to other issues in this debate, notwithstanding the fact that the Ceann Comhairle rightly pointed out that this is a technical Bill amending the IMF articles of agreement to adjust the quota shares of fund members to better reflect their economic weight in the global economy. The fund will give approximately €23 billion to Ireland under the EU-IMF programme of assistance. So far, we have received €13 billion and today €3.9 billion will be released. The IMF contribution represents more than one third of our external funding. Total funding of €63 billion will go to the recapitalisation of the banks, with €21 billion being provided by the National Pensions Reserve Fund.

Deputy Healy referred to austerity, which nobody likes.

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