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It may be a lot of money to you and me but in the context of the NAMA property sale in Northern Ireland €7 million is peanuts. The basic questions which must be put to NAMA are:
1. Why combine so many different properties in Northern Ireland into a single bundle valued at about €5 billion knowing that this figure would rule out a lot of potential bidders which is the last thing that any a seller should ever wish to do?
2. Was NAMA under such pressure to sell straight away?
Would it not have been prudent to set a reserve price which would send a message to potential bidders and, if not reached, would leave them free to withdraw the property and market it again later?
Finally, I know that NAMA is independent but independent does not mean unaccountable.
The above questions must be put to NAMA and answers demanded.
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