Stiglitz: It’s criminal for NAMA to overpay for loans

NOBEL Prize-winning economist Joseph Stiglitz said it would be criminal for NAMA to pay above the odds for impaired loans.

The “principle of overpaying banks for loans is criminal”, he said last night when asked about the NAMA plan.

The winner of the 2001 Nobel Prize in economics warned that the global economy could suffer a “double dip”, an exaggerated recovery which would then give way to another slide.