15 years ago, Ireland was in a very different place economically. The economy was on its knees, and the government had to step in to bail out the entire banking system. It created a so-called “bad bank“ to take on €31.8 billion of banking debt where no one else would. People were skeptical that it would ever break-even but NAMA winds up this year having paid back that €32 billion and a surplus of €5.5 billion to Irish taxpayers. 

Speaking to Joe this morning was Brendan McDonagh the Chief Executive of NAMA.