Richard Bruton (Dublin North Central, Fine Gael)

Has the Minister examined the evidence that other attempts to do this ended in less recovery on behalf of the national agency than private sector recovery of this loan? That is the French example. Has he examined the fact that this will get bogged down in legal wrangling? This will be a bonanza for lawyers and accountants, not for those awaiting credit. That is clear. Does he agree there are many more disputes about the validity of this than simply the valuation? People have asked why non-performing loans in sectors other than development would not be included. Why does the Government want to take on €90 billion - a truly enormous portfolio for the taxpayer to shoulder - in a single State agency? Why have such a Napoleonic vision? Why should Ireland try to design something in a highly risky world? It is a single throw of the dice, a major gamble which we should not embrace.

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