Latest: Calls for Commission of Investigation into Nama ‘pemature’, says Tánaiste

Latest: Calls for Commission of Investigation into Nama ‘pemature’, says Tánaiste

Update 11.47am: Tánaiste Frances Fitzgerald says calls for a Commission of Investigation into Nama are premature.

The sale of Nama's Northern Irish loan book will today be the subject of a 700-page report by the state’s spending watchdog.

“We need to see what is the best approach and in advance of everybody reading that, it’s premature at this point to say that we should have a Commission of Investigation,” she said.

“It needs to be considered carefully, whatever is the best route to get at the truth is where we need to go.”

Update 9.40am: The Taoiseach has confirmed a report into the sale of Nama's northern loan book will be published today.

Enda Kenny said he will meet with opposition leaders early next week to discuss a possible Commission of Investigation.

He warned there could be legal issues given the cross-border aspect of any investigation.

The Taoiseach says the cabinet and the Public Accounts Committee need to analyse the report first: "We're all aware of the investigations that is taking place now.

"And before any taxpayers money is committed to a commission or investigation of any type I think it is only appropriate that this should be read, studied and analysed, to see first of all what the report says and secondly what if anything should be done afterwards."

Earlier: The Cabinet will today discuss a report into Nama's sale of its Northern Irish loanbook 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 has said he will discuss the option of a possible Commission of Investigation with other party leaders.

Latest: Calls for Commission of Investigation into Nama ‘pemature’, says Tánaiste

The C and A G report runs to around 700 pages and looks at the sale of 'Project Eagle' - NAMA's €1.6bn sell off of around 800 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.

Latest: Calls for Commission of Investigation into Nama ‘pemature’, says Tánaiste

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.

More on this topic

NAMA review finds it has made 'exceptional progress', will manage loan book beyond 2021NAMA review finds it has made 'exceptional progress', will manage loan book beyond 2021

Nama forced into €2m settlement with Revenue, correspondence revealsNama forced into €2m settlement with Revenue, correspondence reveals

'It is very frustrating to see it': Developers buy back Nama loans at discounts'It is very frustrating to see it': Developers buy back Nama loans at discounts

Taxpayers let down over historic assurances about NamaTaxpayers let down over historic assurances about Nama


More in this Section

Deal creating EU border in Irish Sea closerDeal creating EU border in Irish Sea closer

The key players in the UK’s hunt for a Brexit dealThe key players in the UK’s hunt for a Brexit deal

Talk of Northern Ireland-only backstop off the mark – Arlene FosterTalk of Northern Ireland-only backstop off the mark – Arlene Foster

Limerick IT and Athlone IT forming consortium to develop Technological UniversityLimerick IT and Athlone IT forming consortium to develop Technological University


Lifestyle

Munster offers so many hidden gems with bargains, ideas and must-have products for the interiors enthusiast who is always on the lookout for something new, writes Carol O’Callaghan.Made in Munster: So many treasure troves for the interiors enthusiast

Aileen Lee in conversation with ceramist Hedi O'Neill.Made in Munster: 'My advice? Be free in your style’ - Ceramist Hedi O'Neill

Red lips are hot for autumn but can you make them part of your everyday makeup? Rachel Marie Walsh thinks so.Code red: Making a statement with red lipstick for the everyday look

Welcome to the Autumn/Winter edition of ieStyle.Don't miss the Irish Examiner's free glossy 'ieStyle' magazine

More From The Irish Examiner