Joe Costello (Dublin Central, Labour) | Oireachtas source

I welcome the delegation from NAMA. Five years ago this month when we were debating the legislation in the House many had reservations as to whether NAMA would be a success and if it could achieve what was intended. Its presentation and the work that has been done indicates that it has achieved much in the past five years. Its approach was probably right that it would start with the UK market which was still buoyant and then come back to the Irish market later on. Does NAMA think, therefore, when it got a haircut of 55% that it was getting a good deal, despite the opinion of the Central Bank at the time?