Kenny claims ‘bad bank’ plan is unworkable

FINE Gael leader Enda Kenny slammed the “bad bank” idea as unworkable yesterday.

Comments made by Michael Somers, head of the national Treasury Management Agency, to a Dáil committee last week seriously questioning the viability of the National Assets Management Agency NAMA), meant “the plan was already holed below the water line,” he said.

Fine Gael’s proposal would park the bad debts of the banks without having to try and put a value on them, an impossible task in the current economic climate, he said.