Jury still out on Nama

Nama may be viewed by international investors as a good idea. Whether its efforts to generate revenue from risky assets can be a template for other countries remains to be seen, writes Dara Doyle

BRENDAN McDonagh travelled to Madrid last month brandishing a map with about 120 hotels, all in Ireland.

“In case any of you want to buy them,” McDonagh, 45, who heads the National Asset Management Agency in Dublin, told the chuckling audience of analysts, economists and diplomats at a seminar. “Nama is a complex business, but it comes down to a simple thing: cash.”