John Perry (Sligo-North Leitrim, Fine Gael) | Oireachtas source

It is important to put on the record and duly recognise what an extraordinary achievement there has been in a relatively short period. The property market has improved in the past year and a half but it was on the floor in Dublin, Galway and Cork and in various locations in Northern Ireland. NAMA has reasonably sold its loans as a job lot in order to do a deal and to get its cheque within a short timeframe. Let us be honest, people buy them for a return on their investment. The consolidation of NAMA's role by Lazard has been skipped over. It provided an independent valuation and due diligence on the properties and, while people can say a firm may have doubled its money on a property, many would not be sold otherwise.

It is regrettable that alarmist reports have emanated without foundation. This damages Ireland. We are a country with the biggest property conglomerate in the world, with a huge portfolio of property in Ireland, the UK and the US. With section 172 in place, where would one find the people with the capacity to do these deals? The integrity of the board, which includes a former chairman of the Revenue Commissioners, is being brought into question by some remarks made today but I am not impressed with them at all because the figures speak for themselves. NAMA has sold difficult properties in bad locations without title but NAMA and Ireland Inc. are damaged by unfounded allegations against the board, whatever it does in Northern Ireland. If somebody is selling a product that person is not responsible for the purchaser or if they are it is something new that I do not understand. People have been trying to imply there was some collaboration but that is an outrageous allegation.