Menu
13/09/2016
'No Excuse' For Stalling In Setting Up NAMA Commission Of Investigation - Carthy
There can be no excuse of stalling on establishing a commission of investigation into NAMA, Sinn Fein MEP Matt Carthy has said.
Speaking in the European Parliament plenary in Strasbourg, Carthy said: "The Fianna Fáil government's response to the financial and banking crisis in Ireland included well known pillars such as the burdening of private debt on ordinary families and the imposition of a savage austerity agenda.
"It also included another pillar, the establishment of NAMA, set up as a 'bad bank' although even those of us who opposed its creation failed to imagine just how bad it would become.
"It is now clear that NAMA's sale in 2014 of its Project Eagle property portfolio in the north of Ireland was based on bribery and insider trading.
"The methods included bags of cash changing hands between NAMA borrowers and government advisers, millions held in an offshore account, and a Minister turning a blind eye.
"The result was that state assets were sold to a US vulture fund at a drastic loss to taxpayers - at a shocking discount of 72%, billions below its value."
Mr Carthy continued: "Two weeks after the Apple ruling, we're due to see the publication of the comptrollers' report on Wednesday on another dodgy deal that deprived Irish taxpayers of hundreds of millions of euro.
"All NAMA transactions must be suspended immediately. It is clear that the Irish government cannot delay a commission of investigation much longer.
"Irish taxpayers shouldn't have to wait for another state aid investigation to get the truth about how they've been fleeced."
(MH/LM)
Speaking in the European Parliament plenary in Strasbourg, Carthy said: "The Fianna Fáil government's response to the financial and banking crisis in Ireland included well known pillars such as the burdening of private debt on ordinary families and the imposition of a savage austerity agenda.
"It also included another pillar, the establishment of NAMA, set up as a 'bad bank' although even those of us who opposed its creation failed to imagine just how bad it would become.
"It is now clear that NAMA's sale in 2014 of its Project Eagle property portfolio in the north of Ireland was based on bribery and insider trading.
"The methods included bags of cash changing hands between NAMA borrowers and government advisers, millions held in an offshore account, and a Minister turning a blind eye.
"The result was that state assets were sold to a US vulture fund at a drastic loss to taxpayers - at a shocking discount of 72%, billions below its value."
Mr Carthy continued: "Two weeks after the Apple ruling, we're due to see the publication of the comptrollers' report on Wednesday on another dodgy deal that deprived Irish taxpayers of hundreds of millions of euro.
"All NAMA transactions must be suspended immediately. It is clear that the Irish government cannot delay a commission of investigation much longer.
"Irish taxpayers shouldn't have to wait for another state aid investigation to get the truth about how they've been fleeced."
(MH/LM)
Related Irish News Stories
Click here for the latest headlines.
12 October 2012
63-Year-Old Dies On Building Site
A 63-year-old man has died following an accident at the VEC campus building site in Monaghan. The man, whose name has not yet been released, is believed to have been a manager at the construction. He was involved in an accident at about 11.40am on Friday and was pronounced dead at the scene.
63-Year-Old Dies On Building Site
A 63-year-old man has died following an accident at the VEC campus building site in Monaghan. The man, whose name has not yet been released, is believed to have been a manager at the construction. He was involved in an accident at about 11.40am on Friday and was pronounced dead at the scene.
02 December 2010
NAMA Rejects CIF Report
The National Asset Management Agency (NAMA) has announced it "completely rejects the flawed and one-sided analysis of the Agency published by the Construction Industry Federation (CIF)".
NAMA Rejects CIF Report
The National Asset Management Agency (NAMA) has announced it "completely rejects the flawed and one-sided analysis of the Agency published by the Construction Industry Federation (CIF)".
21 October 2015
Sinn Féin Call On Govt To Establish NAMA Commission Of Investigation
Sinn Féin has called on the government to establish a "Commission of Investigation into the sale of NAMA's loan books, including its northern loan book".
Sinn Féin Call On Govt To Establish NAMA Commission Of Investigation
Sinn Féin has called on the government to establish a "Commission of Investigation into the sale of NAMA's loan books, including its northern loan book".
11 April 2019
SF In Call For EU Officials To Protect Border Regions
Sinn Fein MEP's Matt McCarthy and Martina Anderson have met with Chief Brexit Negotiator Michel Barnier in Brussels to press the need to safeguard the Good Friday Agreement and protect citizens living on the Irish border.
SF In Call For EU Officials To Protect Border Regions
Sinn Fein MEP's Matt McCarthy and Martina Anderson have met with Chief Brexit Negotiator Michel Barnier in Brussels to press the need to safeguard the Good Friday Agreement and protect citizens living on the Irish border.
01 March 2016
Adams Calls For Investigation Into 'Project Eagle' Sale By NAMA
Sinn Féin Leader Gerry Adams has called for an investigation in relation to the sale of the National Asset Management Agency's (NAMA) northern loan book. Mr Adams has demanded establishing a Commission of Investigation following questions around NAMA's sale of 'Project Eagle'.
Adams Calls For Investigation Into 'Project Eagle' Sale By NAMA
Sinn Féin Leader Gerry Adams has called for an investigation in relation to the sale of the National Asset Management Agency's (NAMA) northern loan book. Mr Adams has demanded establishing a Commission of Investigation following questions around NAMA's sale of 'Project Eagle'.
-
Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
