Most Greens unhappy with current NAMA bill

The NAMA legislation is likely to face further changes after the vast majority of Green Party members expressed dissatisfaction with the bill over the weekend.

A number of options were presented to party members in Athlone. The most popular choice was a NAMA-type agency that would only pay the current market rate for bad loans.

The Government wants to pay a higher rate than that based on "long-term economic value" in order to boost the financial position of the banks.

Only 13% of Green members supported this option over the weekend.

The NAMA bill is due to be debated in the Dáil when it reconvenes this week, with the Greens due to hold a special convention on October 10 to decide whether to support the legislation.