Labour calls for detailed break down of ‘good’ and ‘bad’ loans

LABOUR vigorously fought its ground on its proposals to nationalise the banks last night after the finance minister tore apart their plans warning they would require a recapitalisation of banks costing taxpayers up to €14 billion.

Finance spokeswoman Joan Burton called for a detailed breakdown of the 40% of “good” loans on bank books and the 60% of “bad” loans which the State was buying through its NAMA proposal.

Details of the loans to be transferred to NAMA from banks read like a “page of shame”, she warned.