Paul Gogarty (Dublin Mid West, Green Party)

That is a good point. I am all for that and will take the Deputy's point on board.

Deputy Higgins spoke about abstraction, which is what we dealing in if we get into the minutiae. Section 82(5) provides a concrete counter-balance to the abstract in terms of whether economic value will increase. It states:

Where NAMA determines that the long-term economic value of the property comprised in the security for a credit facility that is an eligible bank asset is less than the market value of the property, NAMA shall not acquire the bank asset.

That is akin to Deputy Ó Snodaigh not backing a horse with a broken leg but a horse that has a chance even though he may not know whether it will win.

See this speech in context