David Cullinane (Waterford, Sinn Fein)
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In December 2013, two months later, the report indicates:

when the NAMA executive sought Board approval for Project Eagle, it did not recommend an open marketing process. Instead, it sought guidance from the Board as to how to respond to PIMCO’s continuing request that it be granted exclusivity.

An objective reading of that, from what I can see, is that in October it was very clear it had to be an open marketing process but there was continuing pressure coming from PIMCO for a closed or no formal open marketing campaign. Paragraph 4.7 indicates it did not recommend an open market process. Is it fair to say that maybe NAMA met PIMCO halfway?