Oireachtas Joint and Select Committees
Thursday, 14 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Richard Burrows:
I also said in my opening remarks, Chairman, that I felt the creation of NAMA by the Government was a very important element in the package of measures designed to make sure that the banking system survived. It was inevitable that there was going to be a discount on the loans to be transferred and frankly, I think the power of negotiation lay more with NAMA than with the banks from which the loans were transferred.
No comments