Brian Cowen (Laois-Offaly, Fianna Fail)

There is no confusion whatever on the Government's part with regard to the establishment of this agency, which is a necessary response to ensure that we have sufficient liquidity in the economy for the supply of credit to businesses both large and small. This is an arduous and complex task and it is being proceeded with as a priority. The question of valuation will be part of that process when we get NAMA up and running. There are EU guidelines on the valuation of impaired assets to which we will be working, both through the ECB and the expertise that will be employed by NAMA for that purpose. That process has just begun.

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