Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014

9:30 am

Photo of Patrick O'DonovanPatrick O'Donovan (Limerick, Fine Gael) | Oireachtas source

I accept that. I will come back to this in a moment, but I wish to focus on how such a refusal would be perceived. I accept the statements of Mr. Daly and Mr. McDonagh, but as previous speakers indicated, in particular Deputy Deasy, I believe the loss of €280 million is something on which the taxpayer would expect us to drill down. I wish to focus on how the matter has been handled, in particular in the fall-out in the past week. Does NAMA accept that there could be a better way of dealing with the issue in terms of the public perception of how it is carrying out its work? The allegation that has been made is that NAMA is almost akin to a secret society with a secret handshake and that nobody knows what is going on inside it. I accept the Comptroller and Auditor General has permanent staff in NAMA. I also accept that NAMA's work has almost come to a conclusion. Has NAMA learned anything from its experience in Northern Ireland? Will NAMA change anything in its approach to the disposal of the remainder of its assets because of the way the issue under discussion has been handled?

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