Michael Mulcahy (Dublin South Central, Fianna Fail)

The reality is that we are in difficult times and the Government is determined to see this project through.

Every morning and evening on the radio and television we hear from Opposition Deputies that the NAMA proposal represents a bailout for builders. Why are they not honest enough to acknowledge that builders will retain full liability for every euro of their loans? This plan will not write off even €1 of developers' debts. If Opposition Deputies were willing to engage in proper and meaningful debate, they would acknowledge that fact. I commend this Bill to the House.

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