Between the state and a hard place

Taking a 15.7 per cent stake of Bank of Ireland at this stage was not part of the government’s plan

20th February, 2010

Ever since the government published draft legislation for the National Asset Management Agency last July, debate has raged about the rights and wrongs of this approach.

The two sides of the debate got characterised - not entirely correctly - as those ‘‘for’’ Nama and those who were arguing that the banks should be nationalised. The way things are heading we could yet have both - Nama and a nationalised, or near at least majority state...

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