Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

Let me read a reply from the Minister for Finance to a parliamentary question this week on 7 July. I am sure Mr. Daly will be aware of it as my colleague Deputy Brendan Smith put a few of these questions specifically on the memorandum. The Minister said in the Dáil:

I understand that the purpose of establishing such letters of intent by the Northern Ireland Executive was to help protect and promote the recovery of the Northern Ireland property market and broader economy in the context of the potential concentrated ownership of property across that economy.

The Northern Ireland Executive was keen to have an understanding with the purchaser in relation to the broader economy. While NAMA was not invovled, it is somebody trying to interfere with its purchaser. NAMA should have asked the Northern Ireland body to let it do its job. Would NAMA have liked if it was selling a portfolio, some of which happened to be IDA Ireland sites, and IDA Ireland was trying to have a memorandum of understanding with the potential purchaser, while NAMA was trying to negotiate on the open market? Can the witnesses see that it was not good to have this happening in the background? Did it not raise questions?