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Economic fantasy

THE taxpayer is to take over the banks’ bad debts so they can be free to lend again to people whose capacity to repay is either currently or imminently non-existent.

And the whole charade is based on the notion that urban glass cages — unsightly, unwanted and unhealthy — will be worth something sometime.

Welcome to Namaland.

PJ McElhone

Castle Avenue

Dublin 3


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