Inquiry into Nama’s Project Eagle must be focused, Kenny says

Taoiseach Enda Kenny says he is not ruling out an inquiry into Project Eagle, the €1.6 billion sale by Nama of more than 800 loans secured on properties in Northern Ireland.

However, he said if one is to go ahead it would need to be very focused.

Mr Kenny said a commission of investigation or a tribunal of inquiry would "commit the taxpayer to many millions of euro" but if an investigation was found to be necessary "then so be it".

The Taoiseach said he had not read a report on Project Eagle, which is due to be published on Wednesday, but had been briefed by Minister for Finance Michael Noonan. He understood the report was extensive.

“Let’s get the report, let everybody read the report, let’s see what questions need to be asked,” he said.

Mr Kenny said there was a logical process to examine what elements of the sale needed to be investigated. The Cabinet is to discuss the Comptroller & Auditor General’s report into the sale at its meeting on Wednesday.

“Before people jump to a point where you commit very serious amounts of taxpayers’ money for an investigation lets follow the process here,” Mr Kenny said.

“(It’s) appropriate the members of the PAC (Public Accounts Committee) would have the opportunity to discuss in some detail the C&AG’s report on Project Eagle with Nama when they come in before them on September 22nd.”

Mr Kenny told RTÉ's Morning Ireland that in the meantime he would meet leaders of the Opposition to discuss if anything needed to be done.

“I temper that with being careful in respect of the two jurisdictions that are involved here, the criminal investigations that are going on, the allegations by members of Nama and the formal complaint lodged,” he said.

The report is understood to have concluded Nama potentially lost out on hundreds of millions of euro because of shortcomings in the sale process which was completed in 2014. Nama is understood to be ready to strongly reject any such finding.

For a State agency to reject a finding by the C&AG, who serves as the State’s spending watchdog, would be highly unusual.

Halligan controversy

When asked if he had spoken to junior minister John Halligan, who has being making headlines for his demands for a second catheterisation lab at University Hospital Waterford, the Taoiseach said he had not spoken with him yet.

“No, I haven’t spoken to John, not in the last few days but I’ve read his words obviously,” he said.

In an interview given to the Sunday Independent over the weekend, Mr Halligan threatened to “bring all hell down” on top of the Government if it failed to deliver the second catheterisation lab.

An independent clinical review has recommended against the second lab.

“I will speak to him because he’s got 11 responsibilities over two departments,” Mr Kenny said. “I brought John Halligan’s name to the Cabinet for approval there as I had confidence to appoint him as a junior minister. I want to see John do his work.”

Mr Kenny also said it would “certainly not” be the last think-in as Fine Gael leader.

“My position is very clear I’m not going to walk away from the mandate I’ve been given,” he said.

In reaction to Fianna Fáil’s latest comments on Monday that water charges should be abolished for good, Mr Kenny said: “I’m not sure what Fianna Fáil are at here.”

“Fianna Fáil have returned to irresponsible public activity in the water area.”

Mr Kenny said his view, and that of his party, is that water charges should stay.

In regards to the upcoming Budget, Mr Kenny said no decision were made about it at the think-in but parliamentary party members had been asked for their views.

“I stress no decisions were made as this was an exercise in asking,” he said.

“There are more moving parts in putting this Budget together than applied in the previous government.”