Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I thank the witnesses for the presentation. I appreciate the job they have at hand. Along with other members of this committee, I ask many parliamentary questions, which are sometimes unrelenting as the witnesses mentioned in the earlier address. It is important that we, as legislators, do that. When we consider where NAMA has found itself in recent weeks, sometimes when we think the ship is sailing steadily it is actually on the rocks. It is important there is scrutiny from Oireachtas Members and the media in general and none of us should fear it.

Deputy Michael McGrath spoke about the ELA. Mr. Dukes mentioned that there would be a rebate to the State of approximately €4 billion based on his figures. If there was no restructuring of the promissory note and if the promissory note runs its course, in 2020 IBRC will have sold its loan books and would have had enough capital - €25 billion - and basically the rest of the promissory note would be written off. It would not be a case that we would continue paying the promissory note after that point because we would be paying to a bank that is just holding capital. Would that not be the case?