The contrast in the treatment being afforded to certain speculative developers by the State controlled NAMA is in marked contrast to the treatment of the ‘Quinn Family’ interest which has proposed a pay back to the State which does not involve any write off.

This was stated by Independent MEP Marian Harkin when she called for explanation of why the State was willing to deal benignly with gambler developers but not with the ‘Quinn Family’.

She said: “It is extraordinary and seriously worrying that the state through its various agencies seems determined to uniquely make the ‘Quinn Family’ pay for a gamble which went wrong while ignoring the culpability of others for the financial condition of the nation which they caused.

“The ‘Quinn Family’ has made a huge contribution to Ireland’s economy and continues to do so in its diversified and successful business which employs almost 6,000 people and is vital to the economic viability of entire regions of the island of Ireland.  In contrast developers at least one of which owes €1.4 billion to the Anglo Irish state bank are receiving a level of positive response which astoundingly is not available to the ‘Quinn Family’.

“The least that the taxpayer deserves to know is the basis upon which decisions are being taken in relation to Quinn Insurance and why the proposals of the ‘Quinn Family’ are being summarily rejected.

“What new raft of experts is now allowed to make decisions which seem to be specifically designed to make the ‘Quinn Family’ pay for their particular misjudgements?  Why is consideration being given to speculators who will contribute little to national economic recovery while ignoring the proposals of an organisation with proven ability to maintain and create jobs?

“The government, in chaining the country to an unnecessarily harsh deal with the IMF and the ECB has undermined the prospects for national economic recovery.   They have compounded this folly with its unwise delegation of vital decision making to Anglo Irish Bank and administrators who continue, under the guise of commercial sensitivity, a policy that the taxpayer and owners of that bank, should remain in the dark on matters of great concern to them. This includes the prospect of the ‘Quinn Family’ proposal for sustaining Quinn Insurance being the best possibility for maintaining employment in Quinn Insurance in Ireland and repaying €2.8 billion to Irish taxpayers”, Marian Harkin MEP concluded.