Denis O'Donovan (Fianna Fail) | Oireachtas source

Will the Leader arrange a debate on the progress of the National Asset Management Agency, NAMA, or lack thereof, as the case may be? Almost six years after its establishment it would be fruitful to have a debate on its current position, where it is going, what the future holds, what money it has made and what it ultimately hopes to achieve. I raise this issue after a person from a rural area, an elderly woman, contacted me about it. She saw a house being advertised for sale by an auctioneer. In good faith, she put down a deposit in line with the asking price and, also in good faith, sold the house she was occupying, as it was totally unsuitable for her as a single person. Eighteen months later, she is no further down the road. I made a formal complaint to NAMA and also complained to the auctioneer who said he was making no progress. In this situation a person wished to buy a house, put down a deposit and, on that basis, sold her existing property. However, she has been living in rented accommodation for the long period since. This is grossly unfair. A person from NAMA agreed with the sentiments I outlined, but it appears that the developer who was taken into the NAMA process is pulling the strings. The elderly woman in question is not the only one in this situation; there are 12 others. However, I am acutely concerned about her because of her situation. The few bob she had saved to buy a new house has been eaten up by the rent she is paying. It is appalling.

I am also concerned about the general situation with regard to NAMA, the appointment of receivers and their links with developers. It is a little like the old days and the three-legged races we held during carnivals. There appears to be a very successful "coaxiorum", as it is called in west Cork, about which I am deeply concerned. There should be more transparency and a debate in this House might shed some light on the current position and where NAMA is going. If it is treating ordinary citizens in the manner in which this lady is being treated, it is not what I thought it was set up to be. It is a monstrosity of a company that owns huge tracts of land that are worth billions of euro. It has a duty to sell it and a duty to the citizens of Ireland. In this instance, which is not the only one, it is falling short of its humanity and duty, both morally and legally, to the people of Ireland.