‘Ostrich economics’ won’t change the facts

YOU reported recently that the Government has received approval from Eurostat to treat the €54bn it is issuing in national debt to fund NAMA as something other than national debt.

‘Ostrich economics’ won’t change the facts
Wed, 28 Oct, 2009 - 00:00
Letters

This seems to suggest there is some kind of EU imprimatur for NAMA, but nothing could be further from the truth.

The Government received such approval because it is engineering NAMA technically to fall within the parameters for such treatment.

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