NAMA transparency and Greek exit
Senator Ó Domhnaill backs a debate on NAMA’s opaque transactions and unidentified purchasers, while warning that a Greek exit from the euro could worsen hardship and shortages.
I support Senator Bradford's call for a debate on NAMA. It is an organisation that is beyond openness and transparency.
Comment on this
The Senator should not prejudge-----
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I certainly have no vested interest in protecting it. Every Member of the House should be given an opportunity to ask the Minister for Finance some straight questions about NAMA's transactions. To date neither this House nor the other House has received an answer as to who the directors of the new 17% in NAMA that was sold under the watchful eye of the present Minister for Finance to a property portfolio somewhere in the Isle of Man or Jersey.
Senator Paul Coghlan might know who the directors are, but I do not.
Comment on this
We need to have some fresh air blowing through the organisation. Perhaps we might start here.
The Greek issue is not just about the debt. Everyone seems to refer to the vote in Greece, but it is a much bigger question than that. It is a question about the European Union and the future of the euro. Greece is one of 19 eurozone members and represents 2% of the European economy. Its people are suffering, but the situation will get much worse if Greece leaves the euro because there will be food rationing and rationing of other items. We should not advocate that such a situation should occur. European political leaders and bureaucrats, who perhaps are the real leaders, need to work out a refinancing and rescheduling plan. They must stop issuing threats to the European Central Bank to the effect that it cannot lend money to Greek banks. That is disgraceful and fuelling what is happening on the streets in Greece where people cannot access their own money. There are real, fundamental issues at stake about democracy and capitalism and where both concepts cross over. Capitalism is winning and democracy is losing. Unfortunately, when political leaders and politicians protect capitalism, democracy loses. We must reflect on this. European political leaders who were elected by the people in sovereign countries must also reflect on it.