Private sector role vital to keep debt ‘off balance sheet’

The EU’s statistics agency has given a cautious thumbs-up to Nama and its loan acquisition vehicle

24th October, 2009

Despite all the noise generated over the National Asset Management Agency (Nama) over the past six months, it fell to Eurostat, the European Commission’s statistics agency, to shed new light on the detailed workings of the new bad bank last week.

It offered its opinion that Nama’s borrowings would not be included in the national debt, thus granting the government’s wish that Nama would be a so-called ‘‘off the balance sheet’’ vehicle. Eurostat...

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