Welcoming the vultures

Welcoming the vultures
Foreign distressed asset predators piling in don't, in themselves, pose a systemic risk to the Irish economy. But they do drive up asset values, unless and until there is a policy response.

Michael Murray: Foreign investment in Irish property should help to de-risk the banks, and thereby reduce the indigenous exposure to a high-risk asset class.

The entry of overseas fund managers into the Irish market to buy up pools of commercial and residential property assets from Nama, and from banks that are exiting the market, is good news.

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