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 Catherine ConnollyCatherine Connolly (Galway West, Independent) | Oireachtas source

I will leave this for a moment. It sounds to me like a game of Monopoly. There is €74 billion and then €31 billion is paid but the property at market value is €25 billion or €26 billion. There are all these games around it in the inner circle but in the meantime we have a major housing crisis while NAMA's raison d'êtredepends on property values increasing. I am repeating myself from this morning but really, it is extraordinary.

Returning to Project Nantes, Mr. McDonagh told Deputy MacSharry that he would re-examine it. I have some specific questions. He said he only became aware of the conflict of interest. I have looked at what is on my desk and that is not accurate. There were questions in the Dáil which raised issues of value for money and queried a conflict of interest. Presumably those Dáil questions were passed on to NAMA. Is that correct?

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