David Cullinane (Waterford, Sinn Fein) | Oireachtas source

It is not simply a theoretical loss. When the Comptroller and Auditor General is looking at the probable loss, it is in the context of a change in sales strategy. It is in the context of documents that were presented to him by NAMA that did all of the calculations, at the time, in respect of the previous sales strategy. NAMA would have looked at the values of the assets, what one would have got working them out over time, projections and built-in impairments with the resultant figure being €1.49 billion. The figure only became reduced when NAMA changed sales strategy and that is where probable loss comes into it. I am asking Ms Nolan to accept that this is the Comptroller and Auditor General's proposition.