Kieran O'Donnell (Limerick East, Fine Gael)

My main concern is for the Irish taxpayer with regard to NAMA and that good assets may end up in tax havens. The Minister stated that one of the reasons he was taking performing property loans into NAMA was to enable NAMA to be self-financing. I might disagree with that policy for a business plan but the basic concept was that in order to enable NAMA to have some possibility of being viable the performing loans would, to a certain extent, have to subsidise the non-performing loans. This concerns me and I believe the Minister's explanation of the €120 billion and the statement that this was the value at the peak is not credible. On what date was the peak? There has been a significant fall of €43 billion. There is a concern abroad that many of the performing loans in the banks will end up——

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