Unions set to oppose NAMA creation

TRADE unions are to lead a campaign opposing the controversial Government plan to create a National Assets Management Agency to take over €90 billion in banks’ “toxic assets”.

The likely adoption of a strategy of confrontation with the Government follows Taoiseach Brian Cowen’s refusal to sign up to the concept of a “social dividend” and protection of workers’ jobs and pensions at the now suspended social partnership talks.

Yesterday, representatives of the unions, employers’ groups and the Government all privately admitted they expected 25 years of social partnership to formally end next Tuesday when the cabinet and national executive of the Irish Congress of Trade Unions hold separate scheduled meetings.