NAMA Inquiry To Be Finished Before Next Property Crash, Promise Government


THE GOVERNMENT has given a firm commitment that any potential inquiry into the sale of NAMA’s Project Eagle property portfolio will need to be concluded before the next catastrophic property crash, WWN has learned.

Speaking exclusively to Ireland’s leading news publication, Fine Gael insiders sought to reassure the voting public by stressing that this latest inquiry will be different from recent, disappointing inquiries.

“We’ve got to learn from the past, and any independent inquiry should be held to a higher standard than others in recent memory which is why we’re pushing to have the inquiry rap up just before the next property crash,” a Fine Gael insider confirmed.

Learning from the mistakes of the last government as well as the Fianna Fáil led governments, the NAMA inquiry has been allowed the option to report 5 years later than planned, over budget and with the some leeway regarding how soft and inconsequential its final summation can be.

“Of course, first we’ve got to make the terms of the inquiry and its remit very vague and ambiguous – this will take at least 6 months, then after that there will be a period in which we might have to rush through emergency legislation so that the inquiry can actually start. The pressure will be on at this point, obviously totally unrelated, the property market will be lurching to yet another combustible crescendo,” the Fine Gael source added, only this time sounding almost human like in his delivery.

While experts have yet to agree when the next property crash will take place, news that any possible NAMA inquiry will be wrapped up before then has been greeted warmly.