Michael McGrath (Cork South Central, Fianna Fail)
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To be frank, we are expecting that bonus. It is not really a bonus because when NAMA was established massive losses were crystalised on the balance sheets of the banks, which were then filled by recapitalisation. Any surplus that NAMA can return will reduce the net liability to the State. We want it to achieve a surplus in terms of its return. As I am sure it has forecast this, I will put my question again. Based on reasonable assumptions, which will of course change in light of market developments, where does NAMA expect to be when it has concluded its work? Can we expect a surplus of €1 billion, €3 billion or €5 billion? I ask Mr. McDonagh to indicate the realm he expects based on certain assumptions. His estimates will be taken in good faith on that basis.