David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I welcome all the witnesses, especially Mr. Daly who is a fellow Waterford man.

Mr. McDonagh, when referring to the Comptroller and Auditor General's report in his opening remarks, said, "A report which is prepared to make such a resounding and serious comment must be properly supported by convincing, formidable and sufficient evidence."

I support that view. We have asked questions of the Comptroller and Auditor General this morning and we will have further opportunities to put questions to him. We must hold Mr. Daly's testimony to the same benchmark that he set for the Comptroller and Auditor General. Mr. Daly's contentions and opposition to many of the findings of the Comptroller and Auditor General's report must also be backed up by convincing, formidable and sufficient evidence.

Before I get to that, I would like to establish that Mr. Daly is still on the same page as he was on 9 July last when he gave testimony to the committee on conflicts of interest and success fees, which are issues that are linked. I want to zone in on these issues. I will quote Mr. Daly's contribution on 9 July and ask him whether he holds to what he said on that day. A simple "Yes" will suffice and if he wishes to change or modify his position, he should feel free to do so. Mr. Daly stated that "if PIMCO did not withdraw, NAMA could not permit it to remain in the sales process". Does he still hold that view?