Irish €90 billion “bad bank” Plan: NTMA at sea over NAMA; Lenihan scrambles through shambles and promises to appoint committee
May 15th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
On Thursday, in a scene resembling a plot from the BBC's 1980's comedy series Yes Minister, the Minister for Finance Brian Lenihan, promised to set up an advisory committee on the €90 billion Irish toxic property loan “bad bank," in response to comments by the head of the National Treasury Management Agency (NTMA), which is to have responsibility for the “bad bank," to be known as the National Asset Management Agency (NAMA).