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Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: Gabhaim buíochas leis an Seanadóir. First, I thank the witnesses for coming before the committee. What I want to try to do, for my own sake and understanding, is to understand where we are at this time. When the news initially broke, there was a lot of confusion for the general public and for ourselves as to exactly what it meant. I still do not feel fully across it. I want to...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: I might start with these and then we can go back to the Senator. What responsibility does this include exactly?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: Which is Luxembourg, yes.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: Which is this year.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: I will explain what I am trying to understand. I remember listening to "Drivetime" when there was a discussion specifically on this. The Central Bank released a statement and it was then that the issue of the €1,000 came into the discussion. What is actually fully different, then? There was reference to the responsibility in terms of non-equity securities for less than...

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: You are making the issuance in----

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: What was the need, then, for the clarification in terms of the €1,000? Is it because we are still the home state?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: That is what I had understood.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: It is important to understand.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: Which they have been doing.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: €2,000.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: At that point we cease being the home member state.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: We would still.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: But we would not possibly be able to do it if they did go over €2,000, say, for next year.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: Okay. At this moment in time, what is our current relationship, exactly, with Israel?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: This year, despite it being changed, right now.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: Unless they requested a transfer.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: So that could technically happen at any point.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (22 Oct 2025)

Mairéad Farrell: Okay.

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