Coughlan: Toxic bank talks will be very difficult

TÁNAISTE Mary Coughlan warned that negotiations to iron out details of a new toxic debt agency will be very difficult.

Speaking at the announcement of 100 new jobs in Cork yesterday, the Minister for Enterprise Trade and Employment refused to be drawn on specific details of the National Assets Management Agency (NAMA), set up under this week’s supplementary budget to rid the banks of bad debt.

Its terms and the specifics of how much debt it will take on have yet to be announced, but bad debt is thought to be in the region of e90 billion.