Ned O'Keeffe (Cork East, Fianna Fail)

I congratulate the Minister of State, Deputy Peter Power, on the very able way in which he has dealt with the debate on several amendments. There are many experts on the Fianna Fáil benches who could, quite competently, handle the finance portfolio and the Minister of State is one such individual.

The legislation is being ridiculed by the Opposition. However, the Minister has achieved what is an excellent deal for the State. Evidence of the success of NAMA will not be apparent in the immediate future but it will emerge during the next couple of years. Not all of the properties involved are located in Ireland. In addition, Dublin and Cork will not be closed down as a result of what is going to happen. Small rural villages may experience difficulties, particularly in the context of land banks adjacent to them which may come within the remit of NAMA.

People should not dismiss NAMA. It will be a success. The attitude of the Opposition is frightening. All it seems to want to do is continually knock everything. We should adopt a more buoyant attitude and try to move ahead.

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