Lenihan, NAMA versus the “leave it alone liquidationists” or potential saviours of the Irish economy
Aug 13th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Finance Minister Brian Lenihan announced in late July, before heading off on a month's holiday, that he would disclose on September 16th, the pricing mechanism for the toxic property assets/loans, which will be transferred from Irish banks to the planned "bad bank" NAMA (National Assets Management Agency). He said value would be based on "long term economic value," but while he could dismiss opponents of the plan as “leave it alone liquidationists”, like a man trying to maintain a beach footing in the face of an incoming tide, the ground is also shifting on the NAMA value issue. The opponents of the current plan may well have done a significant service for the nation, by the time the Department of Finance returns to the issue later this month.