Seanad debates

Wednesday, 11 November 2009

National Asset Management Agency Bill 2009: Report and Final Stages

 

5:00 pm

Photo of Liam TwomeyLiam Twomey (Fine Gael)

I still intend to press the amendment. None of us wants to see NAMA fail but in the next few years there will be many problems and difficulties for the Minister. There will be the master SPV and there may be other SPVs. I have no doubt the Minister might find himself setting up property management companies in the foreseeable future. Ongoing critical financial management will be required. One of the questions that is seldom addressed by the Government side is what will happen if NAMA does not work, and if it does not get credit flowing. What is the Minister's plan B? The amendment would be useful in the sense that it is something to which we can constantly refer back in terms of the purpose of the legislation. We will approach that at a later date.

Comments

No comments

Log in or join to post a public comment.