Lenihan 'should have no role in NAMA valuations'

Lenihan 'should have no role in NAMA valuations'

A backbench Fianna Fáil TD has said the Minister for Finance should be completely removed from the process of deciding how much NAMA will pay for bad bank loans.

Sean Fleming was speaking today at the party's think-in in Athlone.

He says he is not happy with the valuation process for toxic assets, with media reports suggesting that Minister Brian Lenihan only intends to impose a 30% discount on peak property prices.

Some experts say property prices are unlikely to ever recover to that level, which would lead to NAMA costing the Irish taxpayer billions of euro.

Mr Fleming says he believes the minister should be completely removed from the process and, if any dispute over values arises, a High Court judge should make the final decision.

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