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

Photo of Alan KellyAlan Kelly (Tipperary, Labour) | Oireachtas source

Does Mr. Mulcahy agree that the reference to a "disproportionate burden of effort" is really a reference to the fact that NAMA had on it four pressures? First, there was political pressure on the Northern side. There could have been none from the Southern side because that would not have been allowed. Second, there were diplomatic issues. Third, a lack of debtor engagement became an issue. Fourth, and for want of a better phrase, there was significant business risk. Does Mr. Mulcahy agree that what he just referenced and the four pressures correlate with the term "disproportionate burden of effort"?

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