Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Joe HigginsJoe Higgins (Dublin West, Socialist Party) | Oireachtas source

It's probably a vulture fund listening in. In 2009 when NAMA legislation was being presented, the then Minister for Finance, Brian Lenihan, said in a statement "There is nothing in the proposed Bill that would provide a bailout for borrowers whether builders, developers or otherwise. Anyone who owes money before NAMA continues to owe it and is expected to repay the full amount of the debt". Mr. McDonagh, of the 772 debtors that you've showed in your table - whose debts amounted to €74 billion nominally ... and that was taken over by NAMA - has any of them paid the full nominal value of their loans?

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