Nama plan has echoes of 1985
The debate over the establishment of Nama and the bank bailout is similar to the problem faced by the Fine Gael/Labour coalition 24 years ago - a crisis which was solved with relative ease
As the Dáil debate on the government’s proposed National Asset Management Agency (Nama) looms this week, it is interesting to review the response to the then Fine Gael/Labour coalition’s plan to rescue AIB’s Insurance Corporation of Ireland (ICI) subsidiary amid fears that, if it was allowed to go bust, there could have been a run on AIB.
It was 1985whenthe exchequer borrowing requirement was running at...
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