Last Friday the European Council agreed to start talks with the USA on a transatlantic trade and investment partnership. It is a positive move which represents a great opportunity for indigenous Irish companies across all sectors to export to the huge US market. There is a great deal of work to be done on common regulatory standards and investment rules and I wish all those taking part in the talks well and look forward to a fruitful outcome.

I ask the Leader to provide for a discussion in the House on the annual report of the Pensions Board which was launched by the Minister for Social Protection, Deputy Joan Burton, this week. Pensions are a serious issue for many following the financial crisis. Many who invested in property expecting to make a return to provide for their later years now find that that is not going to happen. People who invested in bank shares and made other provisions for their retirement have been disappointed. There is a great deal in the report and it is important that it be aired in the House, in particular to discuss defined benefit schemes. The report states there is actuarial evidence of a €16 billion hole in defined benefit schemes. In Cork Permanent TSB workers face problems and the European Court of Justice recently issued a decision in respect of the Waterford Crystal workers. Workers at the Irish Independent also have issues. Future pensions provision and the serious difficulties faced by many defined benefit schemes are issues the House should discuss with the Minister.

It was not possible for me to attend the Order of Business last week and I did not have the opportunity to express my deepest sympathy to Mrs. Bridie Fitzgerald and her family on the death of the late Senator Tom Fitzgerald. Tom was a particularly close friend of mine and a great adviser to me on the first occasion I stood for election to the Seanad. I was greatly indebted to him for the help he had given to me. We gave him a great send off in Dingle and I express my deepest sympathy to his wife and family.

It is nice to have a bit of good news on a Tuesday morning. I welcome the announcement at the weekend of the new rejuvenation project for Limerick city. I understand it will be a public private partnership project aimed at restoring Limerick to its rightful place as the retail centre for the mid-west region. It has the blessing, naturally, of the Minister for Finance and politicians of every hue and I wish it well. On the same day Foynes Harbour Board announced 150 jobs at a new energy plant on the docks at Foynes. As a director of the harbour board for 16 years, I note that this is something to which we have longed looked forward and it is wonderful to see it come to pass.

Approximately six months ago I had a matter on the Adjournment on the other major project awaited on the Shannon Estuary - the Shannon LNG gas terminal. The Minister for Communications, Energy and Natural Resources, Deputy Pat Rabbitte, attended to discuss the matter and was extremely positive, as has been his Cabinet colleague, Deputy Jimmy Deenihan. The Minister, Deputy Pat Rabbitte, indicated that there would be significant developments in the coming months. I suggest it is now timely for him to attend the House to provide a general outline on the issue of energy security and developments in Ireland, particularly in the mid-west.