Ireland exposed to €500m bill in rushed DDDA deal
This afternoon, Fine Gael TD Phil Hogan released documents, obtained under the Freedom of Information Act, which detail the process by which the Dublin Docklands Development Authority (DDDA) was granted a substantial extension to its borrowing allowance.
The documents reveal that Taoiseach Brian Cowen, then Minister for Finance, took just 14 working days to sign off on approval for the DDDA to massively increase its borrowing level, allowing it to enter into a speculative property deal on the Irish Glass Bottle site.