Mick Wallace RT @wallacemick: The lack of concern shown by the #EU for the people of #Venezuela has been shocking and says much about their so called 'E…
Mick Wallace RT @wallacemick: #EU says they're interested in Dialogue - So why don't they talk to #Syria ..? They say they're interested in Rule of Law…
Mick Wallace An Atalanta win over Real Madrid would be seriously good for football... https://t.co/hUfOdNomaO
Mick Wallace Banning accounts for 'Undermining Confidence in #NATO' ..? Given that NATO is an entity that is designed to promote… https://t.co/sgeQPU3LcG

Dail Diary

Here's my Budget speech from last week, and YouTube videos of same -

https://www.youtube.com/watch?v=QJFNTy8VsCo

https://www.youtube.com/watch?v=2wARilSkqDw

This was the first budget of the Fine Gael-Fianna Fáil coalition, and there were very few surprises in it. It was much like one would have expected, given the neoliberal position of both groups. There was a serious lack of mention of inequality in the budget. I do not think it was equality-proofed and I am not aware of any Government analysis of what the effects of the budget will be on society and on the wider world.

The corporate tax rate and our internationally recognised status as a corporate tax haven remain unchanged. We will continue to allow real estate investment trusts, REITs, some of the most profitable corporations and vulture funds on the planet, to escape the rules of democratic society, and we are not even sure what this will cost. The Minister for Finance has stated that he does not know what his 2013 Finance Act has cost the State in gifted tax exemptions. As he stated last April, "REITs are publicly listed companies, meaning their Financial Statements are publicly available, but the specific figures required to calculate their rental profit (the proportion of profit that is exempt) is not necessarily available in these public documents". The budget has not sufficiently addressed the favourable treatment being afforded to REITs at the expense of the traditional landlord.

On 16 January 2014 I raised this issue with the Minister in the Dáil. I said:

However, many large tracts of property that will be sold off will not be bought by Irish people. They will be purchased by foreign investors who will reap benefits at the expense of the Irish people. These people will end up with a lot of rental property, which will give them a monopoly in the game.

I wish I had been wrong, but that is exactly what has happened. The level of influence of vulture funds and REITs in this country has gone off the Richter scale. If people are wondering why a two-bedroom apartment in a working-class area of this city can cost up to €1,500, there is a very good reason for it. These people have a monopoly and we have not addressed the problem.

The tax benefits and exemptions they were afforded are questionable from a legal point of view. I have written to the EU regarding the exemptions for non-resident investors in Irish REITs and asked whether they breach EU state-aid rules. The Commission has confirmed to me that it is examining it.

I have also written to Revenue regarding exemptions from dividend withholding tax for Irish companies. It confirmed to me that registered Irish charities are exempt from dividend withholding tax. This would mean that an Irish charity investing in a REIT would pay no tax on any profits it receives from the REIT. Given the current abuse of charity status by US vulture funds, it would be very interesting to see what particular charities are currently investing in REITs. I realise the Minister is looking at section 110 and there may be some clawback in this area.

I received a reply to a freedom of information request to the Department of Finance regarding WK Nowlan, the firm that now operates Hibernia REIT. There was correspondence from WK Nowlan to the Minister, Deputy Noonan, in 2011, lobbying the Minister to introduce REIT legislation in Ireland. An incredible amount of correspondence was involved. The letters reference a positive meeting with NAMA in regard to REITs and NAMA’s willingness to engage with REITs if they were established.

It would seem that a conflict of interest should have been established by NAMA regarding these meetings considering the role of Kevin Nowlan within the agency at the time of the letter. He was a senior portfolio manager with NAMA. Before he moved in there he transferred his 30% shareholding in WK Nowlan into a trust offshore. However, it seems WK Nowlan was still able to gain unfettered access to the agency. As we now know, following the successful lobbying of WK Nowlan over a three-year period, REITs were introduced in 2013. Kevin Nowlan, having left NAMA, is now the CEO of Hibernia REIT.

First, the company lobbied the Minister to get favourable status in setting up these REITs. Then the same gentlemen, who were in NAMA, left NAMA and they actually admit that they benefited from the knowledge in NAMA. They proceeded to buy back some stuff they sold for peanuts to some US investment funds. In time there will be a serious issue with all this and it will be problematic for the Government dealing with it.

In a recent programme on RTE, which may have been filmed last year, David McWilliams questioned the same individual, Mr. Kevin Nowlan, about how they set up business and how they did out of the crash, as follows.

David McWilliams: There was no cash in Ireland, no access to cash, so you had to go to where the cash was. When you knocked on the door of George Soros’s, what did you say to them?

Kevin Nowlan: So we basically said that Dublin is a great office market. We said that you can buy office buildings basically in, or below, basement cost.

David McWilliams: What does that mean?

Kevin Nowlan: So you can buy them below what they can be built for. What we had to answer was we said we could do off markets.

David McWilliams: What does that mean?

Kevin Nowlan: That means, you know, a lot of property ends up in The Irish Timesor in the Irish Independentfor sale by receivers or whatever. Basically we know enough people in Dublin to be able to go and buy the properties, without having to go to auction or having to go to the market. And we’ve done 18 deals, and 16 of them we’ve done off market. We’ve bought debt, we’ve, you know, we’ve done quiet deals with people, we’ve done deals with banks, we’ve done them in a variety of different ways. If you buy something in an active vibrant economy, below what it actually costs to replace it, you should be in pretty good shape to make money.

He was 100% right. We have seen so much of that go on in this country in the past five years and NAMA has played a huge role in it at a huge cost to the Irish people. What has gone on is frightening. Sadly the Government does not want to know. It does not want to address the issue. I realise that we will get some sort of commission of investigation into Project Eagle, but it is very important for the future of business in Ireland that we look at every aspect of how NAMA has operated because it has repercussions for long-term business in Ireland. It has repercussions for how many international investors are prepared to come here. If we do not prove ourselves to be accountable and transparent in how we do big business, it will come back and bite us.

I have a concern linked to this. NAMA is supposedly to produce 20,000 housing units at approximately €330,000 each. I have looked at the Government’s housing initiatives. However, it is not addressing the problems that created the housing crisis in the first place. If the Government genuinely believes that the 5% rebate up to €20,000 is not for the developers, it is living in cloud cuckoo land. It is for the developers.

There is a big misunderstanding between a builder and a developer. A builder builds properties, usually at a contract price; a developer is the guy who finances it. It is true to say that in recent times the developers have not been interested in getting back into the residential property market because the margin is not big enough. However, that is not true of the builders. I know of many builders who would be very happy to make €5,000 per unit clear profit, which is great money. There are builders who would be delighted to earn it. However, if the developer wants €35,000 or €40,000 and the Government is introducing a measure that will bring him into the market, the Government is simply putting it in his pocket and it is driving up the price of the house. That is guaranteed to happen; it is logic. No one could argue against it. I do not know where the rationale is coming from. It will drive up the price of the property. It does not make any sense.

Why did we not tackle the cost of construction? Why are we not looking at what it is costing to produce that house or apartment? We are not looking at it. We have not tackled it. The SI 9 is costing over €20,000 per unit. Why did we not get the local authorities to go back and independently check on the level of quality that applied by the builder or developer?

Local authorities have land. I asked the witnesses who came before the housing committee why they did not compulsorily purchase land in Dublin. They said they had more land than the local authority could build on for several years and that land was not the problem. I know that places such as Wexford do not have it and the same may be true in other counties. So the land is there. The local authority has the potential to deliver housing for less than €200,000 a unit. However, we are asking NAMA to deliver 20,000 units at over €300,000 each.

There are a few factors. The first is land price. It is allowing, perhaps, €40,000 a unit for the price of the land and a margin of about €40,000 for the developer. There is the €20,000 for the SI 9, which the local authorities could be doing.

That is €100,000 of a difference already before we go any further. Where is the logic of letting this organisation do it? I will tell the House who is going to build these 20,000 houses and apartments for NAMA. There is a small group of developers who have been treated very kindly by NAMA while there are many developers who have been treated very badly by it. The guys who were treated very kindly, who are back in and doing a roaring business, are the same boys who NAMA is now looking to work with. They are working with investment funds and with their cherry-picked favourite developers. They are going to provide 20,000 units for the State at about €330,000 each while we ignore the fact we can actually get our local authorities to provide units for €200,000. If the local authorities do not have the wherewithal to actually deliver the houses we need, be they social, affordable or otherwise, then let us get them the wherewithal if they can deliver units for that money. Why in God's name would we engage NAMA to do it when its record is pitiful? NAMA has so many questions to answer and if there is ever a truly independent commission of investigation into the total workings of NAMA, do we know what we are going to find out? We are going to find out that the manner in which NAMA behaved has cost the State billions of euro, not millions of euro or the €190 million we are arguing about over Project Eagle and a discount fee. We are talking about billions of euro. I do not understand the logic of allowing these guys to progress with their favourite developers to provide units at €330,000 each when we can get units built by the local authorities for €200,000. The Government talks about social housing but considering the model it is going with, it is still going to be looking to the private sector to deliver many of them. When are we going to learn? We should be learning from our experience. We realised that the neoliberal market version has not worked for us and has cost us too much money. It has failed to deliver. The Government is coming up with 20,000 units to bribe the developers to get back into the game when all it needs to do is to organise finance for the builders because the banks in the State would not dream of lending to the builders. The big boys do not need to go to the Irish banks for money. They might get it anyway but they can go off-shore also. It is about time there was a change of direction in how we organise our society.

Good soundness is a result of proper supply and hygiene. How can medicaments hels up? Circumstances that can influence your choice when you are buying medications are various. Below are basic reasons about cialis vs levitra vs viagra which one is better. Surely there are also other momentous questions. Choosing the unimprovable treatment option for a racy disease can get really confusing considering the advantages and disadvantages of the existing treatment methodologies. When you buy remedies like Cialis you have to have in mind about levitra vs cialis vs viagra. The most significant thing you must look for is which works better viagra or cialis or levitra. A long list of prescription drugs can lead to erectile dysfunction, including many blood pressure medicines, pain remedies, and most of antidepressants. Sometimes the treatment options may switch on erectile disfunction remedies or hormone treatments.

Politicians standing in Water looking for Media attention must be hard to take if your premises are Flooded…

Dáil Diary no 1 – 15th January 2016

 

The Fine Gael / Labour Government is not serious about Climate Change, as we saw with their pitiful Climate Change Bill, which has been described as the worst in Europe. Neither are they serious about dealing with the increasing frequency of floods in Ireland. No doubt, the floods did present some good photo opportunities for our shameless politicians, who clearly wouldn’t like to see any good crisis going to waste. Here’s my short Dáil contribution on the issue. -

 

“The Government is not directly responsible for the rain, but it does have responsibilities in dealing with it. There have been many calls for the dredging of rivers and there have been statements from the Minister for the Environment, Community and Local Government about the provision of the greatest response ever seen to the flooding crisis.

There has been something of a panic attack about dredging. Like many others, I do not believe that dredging necessarily acts as a flood prevention mechanism. A study by Britain's Environment Agency states that a river channel is not large enough to contain extreme floods, even after dredging, and that the dredging of river channels does not prevent flooding during extreme flows. Only a fraction of the water ever occupies the channel. Also, if one embarks on a policy of dredging, every time there is a serious flood one will have to re-dredge. It will be an endless task.

With regard to ‘the greatest response ever seen’ that was mentioned by the Minister for the Environment, Community and Local Government, that might have seen this and previous Governments fulfilling promises to put flooding defences in place years ago. There has been a huge lack of interest in this area. One could argue that the lack of investment in infrastructure in general over the last number of years is a serious concern - I tried to get some finance for coastal erosion on Bannow Island in Wexford a while ago, but I was told there was zero money available for it, at either local or central government level .It was not entertained. There is no interest in dealing with long-term projects like this, because they do not see past the next election. Flood defences were designed for Enniscorthy  in 2009 - It is reckoned now that they might be in place in 2019. As such, forward planning is seriously lacking.

 

The real cause of flooding relates, aside from climate change issues, which were not as relevant in the past, to the loss of flood lands and tree planting, like willows. Lands where willows were sown were very good at holding water whereas the huge move to drain every square inch of available land has meant doing away with the practical use of certain lands for tanking water. Under that system, the water did not arrive at the channel quite so quickly. That works. If we want to deal with flooding in the long term, aside from building flood defences in the towns that are most badly affected, we must also look at recreating flood lands. If that means providing grants to farmers to allow land in certain areas to hold water, so be it. It needs to be done. For as long as I can remember, the EU has only wanted land free from unwanted vegetation. The subsidy industry it runs is geared in that direction. Anyone who was prepared to keep land that would hold water would never get a subsidy from the EU. This has to change. It is a very short-sighted policy on the part of the EU.

 

Just before Christmas, we debated the climate change legislation. It beggars belief how little interest there was in it. The Taoiseach stood up on a world stage last year and said countries needed to show leadership and courage in addressing the climate change crisis. The Government then put forward some of the most meaningless and toothless climate change legislation on the planet. Deputy Clare Daly and I submitted 33 amendments, none of which was accepted and the debate was guillotined. There has been little long-term interest in dealing with climate change in Ireland as if it is a problem for the rest of the world and something that happens out in the Pacific. It happens here too. We have seen it over the last month. Unless the Government takes a more long-term view and starts to look past the next election, we will continue to have problems like this.

 

Dealing with floods and water, I raise again a point I have raised with the Minister for the Environment, Community and Local Government, Deputy Alan Kelly. I never received much of a response but I always found it interesting that Irish Water was taking over water supply and sewerage but did not want to know about surface water and flooding. Local authorities had been dealing with all four up to now but Irish Water has taken over the two that are most attractive, measurable and easily charged for. Flooding and surface water are unpredictable and Irish Water did not want to know about them. It is an indication that the whole idea behind designing Irish Water was always geared towards making it an entity which could eventually be sold. That is one of the main reasons Irish Water does not want to know anything about surface water or flooding. They are too unpredictable and hard to measure and no private industry on the planet would want to be involved with them.”

 

Mick Wallace.

 

Good heartiness is a result of proper supply and hygiene. How can medicaments hels up? Circumstances that can influence your choice when you are buying medications are different. Below are basic reasons about cialis vs levitra vs viagra which one is better. Surely there are also other momentous questions. Choosing the perfect treatment variant for a racy disease can get really confusing considering the advantages and disadvantages of the existing treatment methodologies. When you buy remedies like Cialis you have to remember about levitra vs cialis vs viagra. The most significant thing you must look for is which works better viagra or cialis or levitra. A long list of prescription drugs can lead to erectile malfunction, including many blood stress medicines, pain remedies, and most of antidepressants. Sometimes the treatment options may include erectile dysfunction remedies or hormone treatments.

Tell your local TD at the doorstep -

‘The Irish People want their Neutrality back, Peace not War…’ 

Dáil Diary no 63 – 14 December 2015

In a recent article on the Middle Eastern crisis, journalist Mehdi Hasan wrote – ‘The hardest thing to explain is the glaringly evident which everybody has decided not to see,” wrote Ayn Rand in her novel The Fountainhead. That there is a link, a connection, between the west’s military interventions in the Middle East and terrorist attacks against the west, that violence begets violence, is “glaringly evident” to anyone with open eyes, if not open minds. He went on to write – ‘Isn’t it odd, then, that in the case of Russia, western governments have been keen to link Vladimir Putin’s – and only Vladimir Putin’s – foreign policy to terrorist violence? On 1 October the US government and its allies issued a joint statement declaring that the Russian president’s decision to intervene in Syria would “only fuel more extremism and radicalisation” Moscow’s bombing campaign will “lead to further radicalisation and increased terrorism”, claimed David Cameron on 4 October. Note the words “lead to”. Speaking at a Nato summit on 8 October the US defence secretary, Ashton Carter, warned of the “consequences for Russia itself, which is rightly fearful of attacks”. 

Those who had the audacity to link the Paris attacks with the France bombing of Syria and Iraq, have faced ridicule from some quarters,  who seem to be only able to join the dots when it comes to Russia, but refuse to see the woods from the trees when it comes close to home.  More bombs will not stop the progress of this horrific organisation, they will serve only to give oxygen to ISIS – And boost profits for the arms industry.

The present Irish Government chooses to take the same hypocritical position when it is pointed out to them that, when we allow Shannon to be used as a US Military Airbase, we are complicit in the slaughter of almost 2 million innocent civilians in Iraq and Afghanistan alone, since 2001. The same Government Ministers cry foul when the link is made between the US Military use of Shannon, the mindless destruction of lives, homes and communities, and the resultant Refugee crisis. 

If we really care about the Refugees, we will stop facilitating War, stop the military use of Shannon , and begin to work for Peace instead. Here’s my short contribution on the issue in the Dáil last week, with the Minister for Justice. - 

“The Government says that this is a short-term solution which will solve people's accommodation needs as they seek an application for protection in this country. I understood, from listening to the Minister for State, that direct provision would be abolished, given how poorly it had functioned over the years. Fast-tracking the process will not necessarily solve all of the problems. It will obviously help, but it is interesting that various NGOs have pointed out that there are not sufficient safeguards in the Bill to prevent people being fast-tracked through the system and out of the country again, with insufficient scrutiny of whether they actually need protection. That hardly seems like a just or reasonable solution.

Another problem is the fact that the direct provision system remains a largely private system, with only seven out of the 34 direct provision centres being run by the State. The others are run by private companies. The Ombudsman and the Ombudsman for Children have no oversight role and, despite the working group's recommendation that they should be given one under this Bill, it was another suggestion that was ignored. People live in caravans, prefabs and hotel rooms, sometimes four or five people to a room. They are not permitted to cook their own food and have almost no control over their own lives. Leaving in place the system as it is currently constituted is disappointing.

Ireland is probably unique in that it totally strips asylum seekers of their independence and forces them to be directly provided for by the State, to the tune of €19 per adult per week, with a caravan in Mosney sometimes being thrown in. It is unfortunate that the Bill does not go a lot further. The fact that NGOs are so disappointed with it should surely raise concerns for the Government.

The Minister said people are looking for safe asylum, and I agree with her that they are. We must keep highlighting the fact that there is a reason 33 million people are displaced today because of war. It is unfortunate that we pretend we are not facilitating it, but we are complicit by allowing Shannon Airport to be used as a US military airbase. The Minister can shake her head all she likes, but if we allow international law to be broken on a regular basis by military planes coming through Shannon carrying arms and munitions, which is against international law, and to refuse to inspect them, we are complicit in the war effort.

Some 2.5 million US troops have passed through Shannon since 2001. What have they been doing? Almost 2 million innocent civilians have been killed in Afghanistan and Iraq since 2001. We have played a large part in that. It was nauseating to listen to the Minister for Health yesterday feign concern about Deputies breaking the law when he is not remotely worried about international laws being broken almost daily in Shannon by US military planes bringing munitions and arms through the airport. Why is he not concerned about that? Why is he not concerned about the health of the people in the Middle East and the 2 million innocent civilians who have been killed? I do not understand him.”

Mick Wallace.

 

Good health is a result of proper supply and hygiene. How can medicaments hels up? Circumstances that can influence your choice when you are buying medications are different. Below are basic reasons about cialis vs levitra vs viagra which one is better. Surely there are also other momentous questions. Choosing the perfect treatment option for a racy disease can get really confusing considering the advantages and disadvantages of the existing treatment methodologies. When you buy remedies like Cialis you have to mind about levitra vs cialis vs viagra. The most significant thing you must look for is which works better viagra or cialis or levitra. A long list of prescription drugs can lead to erectile disfunction, including many blood pressure medicines, pain remedies, and most of antidepressants. Sometimes the treatment options may turn on erectile dysfunction remedies or hormone treatments.

 

NAMA – Powerful Forces are at Play – But the Truth will out, in time…

Dáil Diary no 62 – 27th November 2015

 

If the people of Ireland want to know how NAMA have operated, if they want to know whether the agency worked in the peoples best interest, they are not going to get that information unless this Government, or the next, decides to initiate an Independent Commission of Inquiry – the people who want to know the truth are calling for such an inquiry, while those who want to protect NAMA and the Government keep shouting about the PAC, who, by their own admission, are not equipped to hold NAMA to account. 

The Labour Party's acquiescence to this storyline must be disappointing to the many people who really believed that they would play a serious role in reforming how things were done in Irish Politics. They’ve boasted that they’ve kept Fine Gael in check – I would argue that Fine Gael have been the more honest of the two. Fine Gael does what it says on the can – they prioritise big business, and don't pretend otherwise. 

The manner in which Tanaiste Joan Burton dealt with my questions at ‘Leader’s Questions’ on Thursday, bordered on disbelief, with the moronic refrain from some of her Labour backbenchers of  ‘go to the PAC’, for background music. – It’s little wonder that there seems no way back for the party in the opinion polls.

NAMA’s decision to misrepresent what I said in the Dáil yesterday is not surprising – it’s what one does when under pressure. And no surprise that the mainstream media have accepted much of their version of events. - NAMA are a very powerful body, and are well capable of exercising their financial muscle. Here's my Dáil contribution at Leader's Questions.

 

Deputy Mick Wallace:     I have been co-operating with An Garda Síochána on a number of issues relating to NAMA and it has been back to me regarding some of these issues. As the Tánaiste is aware, I have asked many questions in the Chamber about NAMA but I have not got many answers. In fact I have got none. I have put some of the questions and others to NAMA directly and I have got answers from it, some satisfactory and some not. One of the questions I asked about Project Eagle was whether Ronnie Hanna, along with Frank Cushnahan or David Watters, ever met any US investment fund personnel. NAMA's reply was "No", that Mr. Hanna had no such meetings with these individuals. We now know that Ronnie Hanna, head of asset recovery in NAMA, did meet at least one of the US investment funds. NAMA's answer to my question is not true.

PIMCO pulled out of the Project Eagle deal because its compliance department would not agree to the success fee. Cerberus replaced it and paid the success fee. What would PIMCO have got for this fee? What did Cerberus get for the fee? It got insider information and the ability to affect the deal. An executive of NAMA, Ronnie Hanna, was part of a cabal to seek payment for affecting the biggest property deal in the history of the State. The three individuals, Ronnie Hanna, David Watters and Frank Cushnahan, had information above and beyond what was available in the data room. David Watters had reviewed the business plan for many of the debtors.

An Leas-Cheann Comhairle:     The Deputy is naming many names-----

Deputy Peter Mathews:     We need them.

An Leas-Cheann Comhairle:     -----and it is a long-standing convention that accusations should not be made against people outside of the House.

Deputy Mick Wallace:     These are all in the public domain.

Deputy Robert Dowds:     Go before the Committee of Public Accounts on this.

Deputy Mick Wallace:     Frank Cushnahan was looking after the political side in the North and Ronnie Hanna was looking after matters inside NAMA in Dublin. We are not talking about Belfast; this is Dublin. This is at the heart of NAMA in Dublin, and this is on the Tánaiste's watch. The Taoiseach assured us that NAMA had dealt comprehensively with all matters put to it at the Committee of Public Accounts, but what is this worth now? We need an independent commission of inquiry. I realise that Fine Gael certainly does not want one, but the Tánaiste is the leader of the Labour Party and she should ensure there is an independent commission of inquiry.

The Tánaiste:     With regard to Project Eagle, I am advised the loan sale was executed in a proper manner, and despite all the different charges the Deputy has made, and charges against named individuals who are not in a position to comment or defend their good name in the House-----

Deputy Bernard J. Durkan:     Hear, hear.

The Tánaiste:     -----but the Deputy has named them nonetheless, I am told the facts are there are no claims of wrongdoing against NAMA. However, the Deputy clearly has issues with regard to the people he has named.

Clearly, at the base or back of his particular complaints is probably his own unfortunate experience, to which he has referred on many occasions. Understandably, he has a very strong vested interest in, and probably even stronger feelings about, what happened in the context of the collapse in the values of properties when the economy and property valuations collapsed. A portfolio worth almost €6 billion, like many people's personal domestic houses, lost 60%, 70%, 80% or 90% of its value. If the Deputy is saying this loss of value can be attributed entirely to NAMA, and not to the actual impact of one of the most devastating property crashes in the world, then I want to acknowledge he has suffered.

Deputy Peter Mathews:     It was a banking crash that led to a property crash.

The Tánaiste:     As somebody who was involved in the building trade, I know from some of the public records and the media that he suffered. This does not mean that because he feels a very strong personal sense of grievance, which I understand, that his claims of wrongdoing against NAMA stand up. I said to him before on this that NAMA is answerable to the Committee of Public Accounts. I strongly advise the Deputy to take the issues he has raised here, if they are additional to the issues he has already raised, to the Committee of Public Accounts and seek to have them examined there. He knows as well, because we discussed it on a previous occasion, that in the North the Comptroller and Auditor General there is conducting a value for money review into the Northern Ireland sale, and I strongly recommend that the Deputy seeks to get the findings of this report and what it will have to say.

Deputy Mary Lou McDonald:     That report is happening here and not in the North.

An Leas-Cheann Comhairle:     Under Standing Order 59 there is a mechanism whereby a Deputy can give prior notice to the Ceann Comhairle concerning matters in the nature of being defamatory and Deputy Wallace should avail of this. I ask him not to name people who are outside the House.

Deputy Mick Wallace:     Any allegations I have made against NAMA have zero to do with my business. I never had interaction with NAMA through my business. I did not go into NAMA. The Tánaiste seems to be deliberately failing to interpret what I have said. I have given her some new information and I have outlined how I was told untruths by NAMA when it was questioned. The Tánaiste does not seem to have a problem with this. This is shocking.

Deputy Pearse Doherty:     Hear, hear.

Deputy Mick Wallace:     It has nothing to do with me; it has to do with the people. NAMA has failed to serve them properly. There are serious question marks. An executive of NAMA, Ronnie Hanna, in Dublin, deliberately interfered in the process. Does the Tánaiste not have a problem with this? Is she just going to let this flow on and not look for a proper independent commission of investigation into this? Is this possible? I find it hard to credit.

Deputy Eric Byrne:     Say it before the Committee of Public Accounts.

Deputy Robert Dowds:     Go before the Committee of Public Accounts on this.

Deputy Mick Wallace:     I will put a number of questions to the Tánaiste, and she should get answers to them from NAMA. It might tell her the truth. What date and time and to whom was the Fortress bid submitted? What date and time and to whom was the Cerberus bid submitted? Were the bidders advised that the bids were to be the best and final bids? Were they advised that the reserve was £1.24 billion? When and by whom was Fortress advised that its bid was not successful? Did Fortress offer in writing or verbally to increase its bid? Mr. Hanna resigned six months to the day after the Cerberus deal went through. Why?

Deputy Arthur Spring:     Does Deputy Wallace know the answers to any of those questions?

The Tánaiste:     I appreciate the Deputy's concern in the matter, and if he has had no contact with NAMA, I accept that, but I certainly have seen in the public media and I am aware that he was a very fine developer and builder who lost out, as so many others did, in the course of the property collapse in Ireland.

Deputy Clare Daly:     What has that got to do with it?

Deputy Peter Mathews:     That has nothing do with it. How dare the Tánaiste say that? The Tánaiste should withdraw that remark as it has nothing to do with Deputy Wallace's question.

The Tánaiste:     The Deputy has set out on Leaders' Questions a series of very detailed questions relating to a specific institution - NAMA - that is answerable to the Committee of Public Accounts. The Deputy is, I suppose, using a trick deployed by lawyers. He is asking a question and he is very confident he knows the answer to it but I have had no notice of it.

 

Good soundness is a result of proper nutrition and hygiene. How can medicaments hels up? Circumstances that can influence your choice when you are buying medications are varied. Below are basic reasons about cialis vs levitra vs viagra which one is better. Surely there are also other momentous questions. Choosing the perfect treatment variant for a racy disease can get really confusing considering the advantages and disadvantages of the existing treatment methodologies. When you buy remedies like Cialis you have to mind about levitra vs cialis vs viagra. The most significant thing you must look for is which works better viagra or cialis or levitra. A long list of prescription drugs can lead to erectile disfunction, including many blood pressure medicines, pain remedies, and most of antidepressants. Sometimes the treatment options may include erectile disfunction remedies or hormone treatments.

namaleaks

THE TRUTH IS COMING....

Namaleaks is a project that seeks to uncover possible injustice and poor practice related to NAMA (National Asset Management Agency) and financial institutions in Ireland.

VISIT THE WEBSITE

Back to Top