Oireachtas Joint and Select Committees
Thursday, 6 July 2017
Public Accounts Committee
2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015
9:00 am
Ms Ann Nolan:
It is not a question of being conservative. It is the state-aid rules under which the EU agreed to keep NAMA off-balance sheet in the first place. NAMA must repay all the debt, which is the senior debt we guaranteed and the junior debt that it owed to the banks, before it makes any dividend payment to the State. The arrangement is that we get the surplus at the end. That was the arrangement from the beginning.