Cabinet To Discuss NAMA Sale Today

The Cabinet will discuss a report into NAMA’s sale of its Northern Irish loan book which says the taxpayer may have lost out on hundreds of millions of euro.

The report of the Comptroller and Auditor General is to be published and referred to the Public Accounts Committee.

The Taoiseach says he’ll discuss the option of a possible Commission of Investigation with other party leaders.

The report runs to around seven hundred pages and looks at the sale of ‘Project Eagle’ – NAMA’s 1.6 billion euro sell off of around eight hundred loans secured on properties in Northern Ireland.

Leaks have suggested that NAMA – and ultimately the taxpayer – potentially lost out on hundreds of millions of euro from the process, which was completed two years ago.  The agency is expected to dispute the findings.

Pressure has been mounting for months for a public inquiry and these were added to last week when a BBC programme appeared to show a former NAMA advisor accepting cash from a developer seeking to acquire the loans.

The Taoiseach says he will discuss an inquiry with other party leaders but is concerned about legal issues on a cross border investigation, and that it could prejudice any criminal investigations.

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