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

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

Okay. Perhaps Ms Nolan will send the committee a note on how she thinks that is shaping up. There might be a quick answer to my next question. When some of the banks got into trouble, the taxpayer had to bail them out. Essentially, what happened was that the bank debt, which was a problem debt, was handed over to NAMA, another State organisation, which, through its work, effectively reprivatised that debt to vulture funds such as Cerberus, etc. Instead of the debt being held by Irish banks, it is now held by the international vulture funds. Are the main companies that bought the funds from NAMA regulated here?