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    Thursday, September 10, 2009

    Protecting the Taxpayer from NAMA

    Labour party's new doc on disastrous NAMA plans, quote below, full doc here.

    'The bill to establish the National Asset Management Agency (NAMA) is one of the most significant pieces of legislation that the Dáil will ever debate. It involves setting up an agency that will acquire some €80 to €90 billion in property-based loans from Irish banks.

    The risks to the Irish exchequer are enormous and irreversible. Overpayment by NAMA for these loans will impose a huge financial burden on the State, yet it is clear that this is the inevitable consequence of the current Government’s approach'

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