Oireachtas Joint and Select Committees

Wednesday, 22 October 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functions: National Asset Management Agency

5:10 pm

Photo of Peter MathewsPeter Mathews (Dublin South, Independent)
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What I am saying is that these investors are awash with dollars with which they buy euro because they are speculating that the dollar will fall. The dogs in the street in the financial markets know that the dollar is due for a fall. That is why there is an active market in the financial assets that NAMA is selling. If there were no American funds with dollars buying euro, there would not be the high expectations of some of my colleagues on the committee. There would be no market. I think Mr. Daly is right in selling these things, but he should tell the story and why. Does Mr. Daly take the point?