Paul Coghlan (Fine Gael)

I do not wish to disagree with any of my colleagues on this side of the House but I have been a supporter of NAMA from the outset. I understand that difficulties have crept in and that delays have occurred although these were not the fault of this country but of Brussels from whom we had to await necessary clearance. I do not believe all the necessary clearances are as yet in place. I am speaking in this regard of the major systemic banks' own particular plans for the future in terms of addressing their difficulties.

Deputy Richard Bruton has amazing credibility. We all know that Anglo Irish Bank has been nationalised. We all know that in addition to NAMA we will need Deputy Bruton's good bank-bad bank concept. As stated in today's headlines it is the best option and the only way we will work out the difficulties of that nationalised institution. I do not disagree with the recommendations. However, I do not believe that we should at this stage be attacking NAMA, which in the national interest and which we need to succeed.