Terence Flanagan (Dublin North East, Fine Gael)

He is well represented, absolutely.

With regard to the issue of long-term economic value, there is clearly no justification for paying €7 billion over the odds considering the current economic crisis. Making provision in this regard is the major flaw at the heart of this Bill, to which Fine Gael is completely opposed. Deputies referred to the fact that €4 billion is to be found in the budget in December. Clearly the money being invested through NAMA could be used much more wisely.

No provision has been made for a financial stimulus package to get the economy moving again. Clearly, some of the money could be used to achieve this. It is wrong to be overpaying by €7 billion. I support the amendment.

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