Gilmore: NAMA leaves toxic loan risk with taxpayer

THE Government’s proposed National Asset Management Agency (NAMA) will leave the “entire risk” of toxic property loans with the taxpayer, Labour leader Eamon Gilmore has said.

His comments came as Fine Gael’s star acquisition, George Lee, made similar attacks on the plan.

Under the Government’s proposals, NAMA will buy €90 billion of property loans from the banks at a discounted price. The goal is to cleanse the banks’ balance sheets of risky debt and restore them to health.