I was interested in Senator Mansergh's comments on the Stability and Growth Pact, which probably reflect the Minister's thinking. I am opposed to the specific terms of what is simply a political agreement, as it has been since the start. It makes no sense, in the context of a developing economy such as Ireland's, that investment should be curtailed in the way currently prescribed by the pact. The faults of the pact are well known. It does not distinguish between current and capital spending or between countries that have an existing high level of debt and those that do not, and it should.