Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Minister for his reply. The key issue is that there is a major cloud hanging over the Project Eagle sale, which totals £1.3 billion. The Government has conceded the need for a commission of investigation, which only happens where an issue of significant public concern has to be investigated. The Comptroller and Auditor General has told the Committee of Public Accounts today that Project Eagle was not a satisfactory sales process.

The Minister has told the House that NAMA has up to €40 billion par value of loans that remain to be sold. How can he reassure the House and, more importantly, the Irish people that any further disposals by NAMA will meet the requirement for the public interest to be at the forefront, that taxpayers' interests are fully protected, that any further sales processes will achieve that objective and that the integrity of those processes is protected? That is what I need to know. How can the Minister reassure us, given that a major cloud hangs over Project Eagle and how it was handled? Massive sales still have to go through the system.

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