Bank union gives backing to Nama plan

Bank union gives backing to Nama plan

The main union representing bank workers in Ireland has given its backing to the Government's plan to establish the National Asset Management Agency (Nama).

The Irish Bank Officials Association (IBOA), which has 23,000 members, says Nama is the best option for rectifying the current banking crisis.

However, it says the Government should also make sure that jobs in the industry are protected and that any job cuts are made on a voluntary basis.

"Following a wide-ranging consultation with our members, the union’s executive committee which met today also recognised that the Nama approach also offered the best prospect for protecting the jobs, pay and conditions of our members in what will undoubtedly be a very difficult period for the industry,” said IBOA general secretary Larry Broderick.

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