Oireachtas Joint and Select Committees
Wednesday, 21 May 2025
Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach
Dissolution of National Asset Management Agency: Discussion
2:00 am
Mr. Brendan McDonagh:
All of those records are, I believe, there. An agreement was signed by the Government with the troika. Within that agreement, one of the objectives was for NAMA to redeem 25% of its debt by the end of 2013. Those records are maintained by the Department of Finance. It was the overall co-ordinator of the troika programme. I have been on record here before with the former chairman of NAMA. We were asked whether we were put under pressure to do X, Y and Z. We said we were but that we held the line. We believed that was the right thing to do and that we would not go past that line. We held that line. In fairness, the Minister for Finance, the Department and the Government at the time supported us. It was the right thing to do. It allowed Ireland to re-enter the bond markets at the start of 2014.
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