Results 1,961-1,980 of 15,555 for speaker:Eoghan Murphy

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: It is not entirely consistent. The personal insolvency scheme and the NAMA scheme are not necessarily comparable, as I would see it. However, I understand the point Mr. McDonagh is making.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: It is taking the debtors working with NAMA three to five years to work through, is that correct?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: They work through their loan book but they are not bankrupt at the end of it.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: I will finish there but would like to come back in later, time permitting.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: I thank the Chairman for allowing me back in. I apologise to the witnesses for coming in a second time but it does relate to what I said earlier before the witnesses came in about the committee taking more of a role and spending more time and resources with NAMA. I want to briefly touch on a few things and look at something relating to process. I know there is not much that the delegation...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: That would be an amount potentially in the region of €20 billion?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Is it envisaged that this will come into NAMA or will a second NAMA be set up?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: So NAMA will work them through those two different special purpose vehicles?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: So IBRC moving across will in a way completely undo NAMA's business strategy?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Can NAMA do that? Can it manage the assets in terms of the asset management phase NAMA is now in - working on the first SPV while then doing all that diligence work on the second?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: That, in itself, will take time.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: The other issue was the relationship to the troika because it was mentioned a few times. It set the repayment schedule for the bonds up to 2020.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: The plan we have in place and the targets we were talking about earlier - 50% by 2016 and 80% by 2018 - were set by the troika.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Did the troika set them?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Will the troika have influence post-2013 on the repayment schedule were it to feel that the targets might need to change?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Can I take it that it had an involvement before 2013 not only in setting the schedule but how that schedule was met?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Was it dictating the sale, say, of overseas assets ahead of Irish assets?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Was it directing the board in any way?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Not at all?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: So it reserves the right to try to direct the board but has not done so.