Richard Bruton (Dublin North Central, Fine Gael)

Again I am disappointed in the response. We are being asked to accept the rejection of this amendment that would give the Oireachtas some control without any sight of the shareholders' agreement. The Minister is totally vague as to the criteria EUROSTAT applies that should inform the Oireachtas decision in the area. He offers platitudes about what EUROSTAT might accept.

Deputies Ardagh, Rabbitte and O'Donnell asked the straight question what element of amendment No. 3 in my name contravenes the EUROSTAT requirements but the Minister did not answer. He did not even advert to the question in his response. That suggests he is evading questions coming from all sides of the House. The suitability of investors could not interfere with them, the behaviour of members of the Board might but not their suitability. Similarly, the finance, planning accountability and reporting could not interfere with them. Perhaps the manner in which the Special Purpose Vehicle shall discharge its functions could interfere with the criterion of being autonomous. If, however, it does interfere how can the Minister say that a veto by NAMA does not interfere with their autonomy or that his ability to issue a direction that binds NAMA, and by extension the special purpose vehicle, does not interfere with it? We are being asked to accept the Minister's word even when some of his assurances sound as if they come from Alice in Wonderland.

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