NAMA, NAMA, read all about it...

TUESDAY’S NAMA bank bailout announcement didn’t just make headlines here but across the globe, with many newspapers interested to see what shape Finance Minister Brian Lenihan’s bank bailout plan would take.

The Financial Times devoted a substantial amount of column inches to NAMA, describing the bad bank scheme as a “mixed bag – good in parts but less so in others”.

The paper said while the plan contained some “admirably crunchy elements” in legally obliging the banks to dispose of troubled assets, it is not the “once and for all” solution promised by Brian Lenihan.