Joan Burton (Dublin West, Labour)

The figure mentioned - €3.538 billion - is quite a small amount of transfers, in the context of the draft business plan the Minister presented to the Dáil at the time of the NAMA legislation. According to the Minister's plan, more than half of all the loans should have been dealt with by now, as we come into May. However, just a tiny proportion of them have been dealt with. What is the reason for the delay? How many Anglo Irish Bank loans are included in the €3.538 billion figure? How much of Anglo Irish Bank does it represent? To what extent has the long-term economic valuation been used? Has a new NAMA business plan been drawn up yet? If so, has it gone to the board or to the Minister? If not, where is it? How can one deal with €80 billion of loans and up to €55 billion of NAMA bonds without having a business plan? It does not seem to make sense.

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