The Finance Minister has hinted that there will not be a Commission of Investigation into the sale of NAMA’s Northern loans.

Michael Noonan says if anything really needs investigating, it has to be done by criminal authorities and not by a State inquiry.

That is despite Taoiseach Enda Kenny having told opposition leaders last year that the sale of its Northern loans would be investigated.

Minister Noonan says even if a Commission does eventually go ahead, it will need a specific job – as otherwise it will interrupt NAMA’s work: NAMA is clearly progressing its mandate ahead of expectations and we must allow the agency to continue its work.

“We should not derail this good work by launching among other things a mission of investigation, that is unfocused and ill-defined.”