Lenihan says NAMA valuation will not be based on “bubble” prices; “risk-sharing mechanism” with the banks planned
Aug 31st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Minister for Finance Brian Lenihan said today that the success of the planned 'bad bank" NAMA - -the National Asset Management Agency - - is not based on any assumption of a return to the recent "bubble" prices for property. He said the Government may take majority stakes in Irish banks covered by the Government guarantee scheme if they need additional capital after loans are transferred to NAMA. He also said there will be a “risk-sharing mechanism” with the banks.