Billy Kelleher (Cork North Central, Fianna Fail)

The broad thrust of the report quite clearly indicates that export credit insurance or the top-up system which was proposed by some people in the export business simply were not viable. There is now an upturn in that market. It is quite possible that commercial houses and insurance houses will be able to provide that cover in future and that there will be no need for the State to get involved in short-term export credit insurance. I mentioned there is also a medium-term issue which the Department is examining.

In the short-term, we believe there is an upturn. Some articles written in Sunday newspapers recently reflected the fact there is confidence out there. I was in London yesterday where we met insurance and banking companies promoting Enterprise Ireland companies. They were very confident that this market has stabilised and commercial activity was again beginning to happen.