Taoiseach and opposition agree in principle to statutory inquiry into 'Project Eagle' sale

The C&AG found the taxpayer probably lost €220m on the Northern Ireland transaction

Taoiseach and opposition agree in principle to statutory inquiry into 'Project Eagle' sale

Taoiseach Enda Kenny at a Fine Gael parliamentary party meeting at the Keadeen Hotel in Newbridge, Co Kildare | Image: RollingNews.ie

Opposition TDs and the Taoiseach have agreed in principle to a statutory inquiry into NAMA's 'Project Eagle' sale.

It comes after the Comptroller and Auditor General (C&AG) said the taxpayer probably lost €220m on the sale of the Northern Ireland loanbook.

Yesterday the Cabinet decided there needs to be a further investigation, but stopped short on deciding what it would be.

Enda Kenny has met with the opposition to try and come to an agreement.

In the main, opposition TDs say there has to be a statutory commission of investigation.

However, People Before Profit TD Richard Boyd Barrett says the form that will take is not clear.

"The only thing that was agreed is that there needs to be a statutory commission of investigation into this.

"But where the debate is is precisely what form that will take - will it be comprehensive?

"And certainly for my part, it should not be limited simply to Project Eagle but it needs to be into the whole workings of NAMA - the political dimension, the financial dimension and the criminal dimension."

Opposition leaders will be able to make submissions on what should be investigated to the Taoiseach's department.

Sinn Féin's finance spokesperson Pearse Doherty told Newstalk Drive these submissions will be crucial in the formation of the inquiry.

But he also believes further sales by NAMA should be stopped.