Michael Noonan denies he told Nama to sell loans

Finance Minister Michael Noonan has denied “directing” Nama to quickly sell-off its Project Eagle loans in a move which allegedly lost the State €220m, despite admitting to seeking and giving “advice” on the highly controversial deal.

Mr Noonan outlined the position during a five-hour meeting in which he blamed the ECB for any pressure to sell and said it was not within his powers to scrap the sale when he learned a Nama adviser stood to benefit.

Speaking during a lengthy cross-party Dáil public accounts committee meeting, Mr Noonan repeatedly said “no political pressure” was placed on Nama when the deal was agreed in 2014.