Oireachtas Joint and Select Committees

Thursday, 13 July 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Overview of Operations and Functioning of NAMA: Discussion

9:30 am

Photo of Paul MurphyPaul Murphy (Dublin South West, Solidarity) | Oireachtas source

Let us go through it bit by bit. Unfortunately, the debate on the Summer Economic Statement has taken many of our members away, so we have a bit of time. On the issue of the vulture funds, putting the legal matter aside for a minute, does Mr. McDonagh accept that there is a problem when a large portion of NAMA's sales of large portfolios has gone to international funds? Mr. McDonagh does not really think that it is a problem because they will only hold on to it for a short period of time and it will come back to someone in any event. Does Mr. McDonagh not accept that it is a contributing factor to the hoarding of land and absence of development that is taking place?

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