Minister: Eagle deal corrupted North’s political system

Northern Finance Minister Máirtín Ó Muilleoir has said Northern Ireland’s entire political system has been corrupted by the £1.24bn Project Eagle property sale.

He further alleged that the region’s business world, as well as its legal and accounting professions, has been left tainted by the deal between Nama and US vulture fund Cerberus.

The “race to the bottom” Cerberus brought to Ireland when it secured the property loan portfolio in 2014 is “absolutely shameful”,he told the Oireachtas jobs committee. He was being questioned about recent reports that Cerberus paid almost no tax on huge profits reaped by its acquisition of the Project Eagle portfolio.