Jim Power

member of the European Central Bank's governing council.

She came out earlier in the week saying, even if the Iranian war ends in the morning and oil price come back down, the ECB will still have to increase interest rates on June 11th, which is the next meeting.

I think it's nuts, and I've said that many times, but the odds are stacked towards it, as we've said.

Jesus, you need to think about that, Chris.

I want to talk a little bit about some Irish stuff.

The Environmental Protection Agency, the EPA, published its latest environmental report.

Ireland, under the Climate Act, has a commitment to reach or a target to reduce greenhouse gas emissions by 51 percent from 51 percent below 2018 levels by 2030.

OK, and they're sort of saying that if everything in the pipeline regarding EVs, heat pumps, et cetera, all of that stuff were to be fully delivered, that we still wouldn't go anywhere close to achieving that 51 percent target.

And.

the best that Ireland can achieve is 25% reduction.

So there is that climate backdrop.

But I launched a report in Dublin today.

I did it with a Morrick consulting body, market research mainly, but we did it together on data centres and digital infrastructure projects.

And I guess the conclusions from that report and it's attracted a lot of attention 12 hours after it's published.

But, you know, I was arguing that digital infrastructure should be viewed as critical infrastructure.

infrastructure, not just for ICT, but for every business and household in the economy.

I mean, data is becoming the new oil.

We need to be able to handle it.

And we need data centers for that.

And if we don't develop data centers, Ireland is going to miss out on the A.I.,