President can still save us from a ‘financial Dunkirk’

THE NAMA Bill is essentially perhaps the most financially toxic piece of proposed legislation that has ever been presented to the Oireachtas.

Judging by the Dáil debate it is apparent that the nature, depth and extent of the banking sector’s perilous financial situation is just not properly understood by our politicians and even by some of their advisers.

My previous letter (November 7) clearly shows how the NAMA experiment will result in losses on loans recoveries of not less than €11.65bn. No one has been able to fault that analysis.