Eamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

The Minister of State says this does not affect our neutrality but at a certain point it does and we are at that point with a €500 million per annum research budget which we want to tap into, and a €5 billion capability window to build up a defence industry.

As the Minister of State said, there are hybrid threats, cybersecurity threats and dual-use opportunities for which we will have these capabilities. However, it is increasingly drawing us in.

Just to focus on one specific question, the Minister of State said that he does not wish to contemplate the outcome of the Council meeting in advance. There is a proposal on funding and financing to the effect that the European Investment Bank, EIB, would have the capability of defence lending. That would be a shocking development which could have real implications for the EIB's ability to raise funds. No ethical fund would be able to invest in the EIB. The cost of lending would probably rise as a result. Does the Government intend to support any proposal that gives the EIB defence industry and arms industry lending capability? Does it think it better not to support that development or to be associated with it if the proposal is passed?

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