Oireachtas Joint and Select Committees

Thursday, 20 September 2018

Public Accounts Committee

National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report

9:00 am

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

Fine. I appreciate Deputy Cullinane has to leave. I have another question about the surplus. Has the Department of Finance had discussions at EU level with EUROSTAT about the use of the surplus when it is ultimately handed over? We had a discussion on this here before. We were told that because NAMA is unique, there are no specific European or EUROSTAT rules on it. Historically, financial assets were sold to reduce debt. That was in the time of the troika. There is no legal requirement for this to be done, but there might be a political view that it should be done. Where is this topic? The Department should not wait until the money arrives before it starts considering it.

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