Labour Party gathers for Waterford think-in

Labour Party gathers for Waterford think-in

The Labour Party's TDs, Senators and MEPs are gathering in Waterford today for their annual think-in ahead of the new Dáil term.

The Government's plan to establish the National Asset Management Agency is likely to be one of the main topics at the conference.

Labour is in favour of nationalising the main Irish banks and has argued that this will effectively happen anyway under the NAMA proposal.

It says NAMA represents a major gamble with "enormous and irreversible" risks to the taxpayer.

Yesterday, the party said the Government must insist that NAMA gets a minimum 50% discount on any bad loans that it buys from the bans.

Labour also said details of the loans must be made public so people can assess if taxpayers are getting value for money.

Elsewhere, issues like education, the economy and job creation will also be discussed before the conference concludes at lunchtime tomorrow.

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