Dan Boyle (Green Party)

Every day in this House there is a debate on accountability and responsibility, and I am glad to have such debates at any time. When NAMA was agreed by this House and the other House last year, the debate was whether the haircut on the loans from the financial institutions would be sufficient. The legislation allowed for a haircut of 30%. At the time of the debate, I said that the haircut should be closer to 50%. The actual haircut is 47% and this shows that NAMA is working.

We are not criticising the Government here. We are criticising the decisions made by the Governor of the Central Bank and by the newly appointed Financial Regulator, Mr. Matthew Elderfield, who has been praised already by a Member of the House.