Bruton: NAMA plans are crumbling

Fine Gael's finance spokesperson Richard Bruton has claimed the Government's plans on NAMA are beginning to crumble.

Finance Minister Brian Lenihan has indicated that the banks may have to share some of the risk associated with the loans taken on by the Agency.

Richard Bruton has said the comments show the minister has done a u-turn on the issue of over-paying banks for developer loans.

Deputy Bruton added he believed Minister Lenihan was now coming around to Fine Gael's thinking on the banking crisis.

“The minister has said he is willing to put explicit risk sharing mechanisms into the legislation. The only risk sharing mechanism that would be credible is one where the taxpayer only pays the market price and it is the professional investors who continue to share in the risk and responsibility of the workout”, said Bruton.

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