Hard questions for hard times

THE Green party has deliberated and is supporting the NAMA proposal, but what about the rest of us?

Having read as much as I can of the prognostications of the experts — economic and political — please can anyone answer the following questions?

1. The Government is to receive into NAMA all the debts, loans and assets of the banks that are linked into the building/property development industry. These are estimated to be €77bn. The present market value is estimated to be €47bn. But NAMA will pay the banks €54bn on the basis of an estimation process called “long-term economic value”. Has any government or banking system in the world done this before?