I wish to raise with the Taoiseach the clear need for him to give a definite commitment on the establishment of a commission of investigation into NAMA's Project Eagle loan sale. He said in his response to Teachta Martin that he is awaiting the report of the Committee of Public Accounts. He knows that committee was not allowed to, could not and did not examine allegations of criminality or corruption. These allegations can be dealt with only by establishing a commission of investigation into the loan sale. The Taoiseach should stop conflating the issues and give this side of the House a clear commitment and follow through on a commitment he gave previously to party leaders that he will establish a full commission of investigation to examine the allegations of corruption made in regard to the loan sale.

I met the party leaders in September in respect of this matter. I subsequently received a number of submissions from them on the matter. We met again on 4 October. It was agreed in principle to establish a commission of investigation under the Act of 2004 to investigate significant matters of public concern in respect of NAMA. This will be based on terms of reference providing for the sale Project Eagle to be investigated in the first module. At the meetings, the party leaders acknowledged that there would be significant limitations on the commission's work given the location of potential witnesses or documentation outside the jurisdiction, in addition to ongoing criminal investigations, of which the Deputy is well aware, and the likely cost of a commission of investigation. Subsequent to the meetings, the Committee of Public Accounts held quite extensive hearings during the autumn on the report of the Comptroller and Auditor General. It heard from NAMA itself and many other key witnesses. We agreed that it would be appropriate to wait until the Committee of Public Accounts produces its report and consider how best the findings might be incorporated into the terms of reference of the commission of investigation.