Almunia’s team walk a fine line

The EU competition commissioner may yet run out of patience with Ireland’s breaches of EU protocol in trying to prop up the Nama five

10th July, 2010

EU competition commissioner Joaquin Almunia could be forgiven for growing tired of correspondence coming his way with an Irish stamp on the envelope.

Almunia has become a key player in the Irish banking crisis since taking over the competition portfolio from Neelie Kroes earlier this year.

EU rules dictate that the radical surgery necessary to rescue all five National Asset Management Agency (Nama) participants - AIB, Bank of Ireland, Anglo Irish Bank and building societies...

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