Martin Mansergh (Fianna Fail)

I welcome the Minister of State and his officials. The reduction of the annualised rate of inflation to 3.7% is good news that the trend is positive. Much of this is due to outside factors such as the fall in international oil prices once the uncertainty over the Middle East situation was clarified and also the strength of the euro. The matter was discussed this morning on the Order of Business. The paradox is that the strength of the euro is bad news for indigenous companies, but good news for the multinationals which translate their profits into dollars.