Seanad debates

Monday, 9 November 2009

National Asset Management Agency Bill 2009: Second Stage

 

4:00 pm

Photo of Feargal QuinnFeargal Quinn (Independent)

I was trying to think of who it was and Pollyanna came to mind. I do not wish to be a Jeremiah but we must bear in mind the Japanese lesson. There is always the same old argument that Ireland is unique and different; I, too, have said it on many occasions. However, it is not different and we must take this on board. During the boom we were able to secure low cost money in Europe to fuel the market and now need money again to reflate the economy. The fact is, however, that nobody is lending to us or is likely to do so. For that reason I am sceptical that property prices will increase in ten years.

Why are the Anglo Irish Bank accounts not being released until December? They would usually have been released in September but that date has been extended to December. I do not know why. I query it in the belief we can make a success of NAMA if we have sufficient knowledge. That knowledge should not be kept away from us.

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