Peter Mathews (Dublin South, Fine Gael)

Follow that, as they say. It is difficult to follow the technicolour of the Minister's skill and his veteran abilities in addressing this House. I wish to pick up on a few points, however. Some €5 billion had been earmarked in the minds of the troika for the sale of State assets. It was an achievement to negotiate the sale of investments down to a level of €3 billion. I have changed the word "assets" to "investments" because these were always investments. In Ireland, the Government and semi-State companies have never carried non-revenue or non-income producing investments. They have generated employment and have worked productively and profitably.

If I were at the negotiating table - particularly after the wise decision to declare a referendum on the fiscal compact - I would seek, at the right time, a successful divestment of existing investments into more powerful and newer investments. The old investments would thus be under new ownership, while the employment levels and operations would probably not be that materially altered. The sale proceeds, in the order of €3 billion, could then be invested in new technologies, industries and markets creating new levels of employment. That would be a good day's work.

If all the timetables come to pass, on 31 March we will be on the point of organising a €3.1 billion injection into the IVRC. We might pause that to ask our counterparts in the troika to consider a fresher and more powerful investment regarding a divestment from older mature industries into newer ones creating employment. That would be a fresher way of looking at things, as well as being a new and robust departure.

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