Arthur Morgan (Louth, Sinn Fein)

For a number of reasons, I support the sentiment behind the amendment. The Minister referred to reporting on a quarterly basis. In the ordinary scheme of things, a quarterly report would be sufficient. However, we are not dealing with the ordinary scheme of things. We are dealing with senior bank executives who have continually demonstrated in recent years that they are not worthy of trust. The only way to hold these people to account is to ensure that, at least in the early days of NAMA, they report on a monthly basis. This would ensure beyond a doubt that their practices are reasonable and come within the realms of what might be termed "normal transactions", in so far as anything relating to NAMA might be referred to in that way.

The Minister's offer of a quarterly report represents a genuine effort on his part to meet our concerns. However, a quarterly report is insufficient and that is why I support the amendment.

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