Oireachtas Joint and Select Committees

Thursday, 17 November 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

9:00 am

Mr. Mark Neporent:

It has been positive. Over 700 assets have been refinanced or sold, of which approximately 400 are development assets. Our sense is that most of that was done on a consensual basis. I am not a macroeconomist and Cerberus does not make decisions based on macroeconomics but since our purchase, unemployment in the jurisdiction has gone down by 27%, from 7.7% to 5.6%, and housing prices are up by approximately 19%, suggesting it has gone rather well.

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