Frank Fahey (Galway West, Fianna Fail)

For the simple reason that the bank would have gone under otherwise. I am not trying to score points here, I am making the point that the assets of Anglo Irish Bank could be worked through with NAMA to become profitable again, particularly the assets outside the State.

We have dealt with the master SPV but I would like the Minister to indicate what the other SPVs will do. We have heard a great deal about the Zoe group. Is it possible that the Zoe group would become an SPV so its assets can be worked through to a profitable conclusion? I would assume in that scenario that the owners of those companies would be liquidated immediately.

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