Kieran O'Donnell (Limerick East, Fine Gael)

It does nothing in terms of adding to the core tier 1 ratio. A businessman looking at this would purchase the assets at market value. In that context, NAMA would have some chance of making a return. It is paying €7 billion over value. The taxpayer is taking all the risk but €2.7 billion. If the Minister were to take the €7 billion by way of ordinary shares in the institutions, he would probably have more than a 51% shareholding and an element of control over NAMA in terms of proper disclosure in respect of the loan book.

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