Nama to repay Euro seven point five billion Euro by the end of next year

The Boss of NAMA Brendan McDonagh said the agency was in a strong cash position and that additional debt repayment was likely before the end of 2012.

“This is a commitment under the country’s agreement with the troika and is important in terms of investor perceptions of Ireland,” Mr. McDonagh said.

Ireland’s beleaguered construction sector represented just six per cent of the entire value to the economy last year, compared with 23pc during the heady days of the building boom in 2006.

This is €7.5bn of Irish bank debt going to pay international banks in the main German for losses incurred by Anglo and other banks.

If these foreign banks lost the money through bad deals, should we be handing over this money to them?