Asset fire sale must be avoided

Nama is vital to finding an orderly way out of our current problems

15th August, 2009

Economists worry about bubbles in asset prices because significant damage is invariably done to the economy when bubbles burst. In this country, we face a huge challenge in dealing with the legacy of the property boom. Far too much money was lent out over recent years to buy overvalued property.

Although we are not the first country which has had to pick up the pieces in the aftermath of a boom in credit and asset...

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