On Friday last, the German Constitutional Court decided that to save the bond market, the European Central Bank-----

Hold on a second. Where are we going now? We are not dealing with the German Bundestag at this stage on the Order of Business.

We are, and I will tell you why.

No, we are not. I happen to be in the Chair. You happen to be on your feet and you have to stick to Standing Orders as they relate to the Order of Business.

A vast amount of legislation going through the Houses at the moment derives from this territory.

I know that.

To ignore it would be stupid.

Table a parliamentary question. That is not for the Order of Business.

The Taoiseach was in Davos less than three weeks ago where Ken Rogoff, an internationally regarded economics professor-----

Deputy, would you respect the Chair, please? You are totally out of order.

-----said that a debt write-down for Ireland would be the right thing for Europe to do.

No, you are not going to start quoting from Davos. Thank you. I call Deputy McLellan.

Now, the Federal Constitutional Court of Germany is saying that the ECB is being prohibited from doing what it has been doing since Mr. Draghi instructed in 2012.

Deputy, would you resume your seat please?

In other words, the outright monetary transactions are illegal. This is a major mess.

Please sit down and resume your seat. I call Deputy McLellan. Thank you.

Fair play to Deputy Kelleher.