Martin Mansergh (Fianna Fail)

If the bigger countries impose pressure to modify the pact, we should seek to ensure that any changes accommodate our interests. Speaking in the presence of the former Minister for Public Enterprise, I caution against the suggestion that we seek an exemption to fund public transport projects on the basis of our low level of debt. While I am in favour of public transport, I am against wasting huge sums of public money. I am not satisfied that matters are under control or that the most economical methods of making progress are being pursued. It would be deplorable if we were to almost bankrupt ourselves because we thought we were adopting something costing €4 billion which then escalated to a cost of €8 billion or €12 billion.