Lenihan welcomes EU ruling to keep NAMA debt off national accounts; Inclusion would add 33% to 2010 Irish debt/GDP ratio bringing it to 109%
Oct 20th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Minister for Finance, Brian Lenihan, today welcomed the preliminary view from the EU statistics office, Eurostat, that the €54 billion in public debt which the Government will raise to pay for the toxic property loans to be transferred to the Irish "bad bank:" NAMA, will not have to be included in the national debt total. It would have added 33% to the 2010 debt/GDP ratio bringing it to 109%.