Greens to hold emergency convention on bad bank

The Green Party is set to hold a special convention on the State’s controversial bad bank after a swell in grass-roots opposition, it emerged tonight.

Several constituency groups with the junior coalition partner have already demanded the emergency meeting and under party rules just one more is needed for it to go ahead.

If enough members vote against the setting up of the National Assets Management Agency it could plunge the Government’s ambitious plan into chaos.

But dampening down speculation of a potential coalition crisis Mr Gormley said he expected the special convention would iron out any worries among the rank-and-file.

“I think it (convention) will go ahead. I can’t pre-empt that but I imagine it will go ahead,” the party leader said.

Support from five constituency organisations are needed to call a convention and so far four have already made the call – Waterford, Dublin Central, Dublin South Central and Kerry North.

But party members in Mayo are holding a meeting this evening and activists are expected to back calls for the convention.

If two-thirds of the overall party were to reject Nama at the convention it could create difficulties for the coalition.

Mr Gormley said he welcomed input from party members.

“Again you have to remember that it requires a two-thirds majority, that’s always very difficult to attain,” he said.

“But I would hope that as a result of a party convention, we can reach an accommodation of some sort and that we can agree on a motion in relation to the Nama legislation.”

Dublin Central local election candidate Gary Fitzgerald, who is backing calls for the convention, said members were not against the proposal of a bad bank but wanted details of the scheme properly debated.

The Dáil is to resume on September 16 to debate the Nama legislation.