Lenihan admits NAMA plan ‘is not risk-free’

FINANCE Minister Brian Lenihan has admitted NAMA “is not risk-free” and hinted the agency will pay up to €60 billion for the property loans it is buying from the banks.

He told Fianna Fail TDs at a private briefing yesterday that NAMA carries risk because the property market might perform badly over the long term, meaning the State would not recoup its outlay.

But he insisted: “The risks of alternative approaches or of doing nothing are much greater.”