David Cullinane (Waterford, Sinn Fein)
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I will get to that. He has not referred to, and does not dispute, the market rate being applied if it was a loan sale or a fire sale. That is not his contention. His contention is that if NAMA holds and works out the assets in the manner in which it was originally intended then the 5.5% discount rate would apply. Is that fair enough?