Bad bank essential in tackling crisis, says EU economic commissioner

CONTROVERSIAL bad bank NAMA is essential in tackling the country’s banking crisis, the EU’s economic commissioner said yesterday.

Joaquin Almunia, economic and monetary affairs representative, called for the Dáil to sign off on the toxic assets agency as soon as possible. After talks with Finance Minister Brian Lenihan, the senior European figure also claimed everybody but the poorest in society must shoulder the burden of tackling the crisis.

“My wishes for the next couple of months here is first that the NAMA will be adopted by the parliament as soon as possible,” Mr Almunia said. “It is one very important issue.”