In the past 15 years, Ireland has moved from having the worst debt to GNP ratio in western Europe to having the best, with the exception of Luxembourg, which in some senses does not count. Although we have the highest rate of inflation in the European Union, we also have its highest growth rate. In such circumstances, making a fair comparison would require that we take as our inflation target the average EU inflation rate plus 50%. While I accept we are not within reach of that target now, it must be our objective. It would be impossible to sustain our current levels of growth while keeping inflation at the European average. We are catching up with other members states.