The banks will have to contract in order to survive
Sometimes, in order to figure out whether something is going to work in the future, you have to understand exactly what went wrong in the past.
This week, as we prepare for the estimate of how much the state will pay for property loans from the banks, everyone wants to know: will the Nama initiative work?
Its primary goal is to get banks lending again. Nama cannot force the banks to lend; it can only...
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