Mr. Frank Daly:

The comment about NAMA is presumably just as valid as the comment about the Comptroller and Auditor General. If there is an inquiry NAMA will co-operate fully with it but we have set out our stall. I presume that this committee at the end of its deliberations will come to a view as to what extent we have made a convincing argument, have fallen down or whether further inquiry is necessary. We will co-operate. I am not saying we will be rolling over with pleasure at the idea of an inquiry that will go on presumably for months. I have a view of inquiries that the only people who really gain are the legal and financial representatives who will inevitably be involved. That is probably because I have spent most of my life collecting money for the State rather than spending it. Whatever arises we will co-operate.