Oireachtas Joint and Select Committees

Wednesday, 24 June 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Just one. Okay. Can I take it that the fact that the original NAMA draft plan was based on a 30% discount, which would have been the ... the ... NAMA paying around €54 billion for €77 billion of gross loans and that ended up ... that NAMA paid over €20 billion less. So for €74 billion they ended up paying €32 billion, so, instead of a 30% discount, it was nearly 60%, so €20 billion less went into the banks and we had reports in 2010 were ... could one bank bring down a country? If those level of discounts hadn't arisen in NAMA, was it ... did it have an impact in bringing a banking crisis to a sovereign crisis and precipitate our, as a country, going into a bailout?

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