If you would like to submit a contribution to our Readers Blog section then follow this link. Be sure to include your full name, address and contact number otherwise your submission will not be considered for publication. We will contact you prior to publication.

Let NAMA proceed – but nationalise two of the major banks as well

GETTING the country’s finances in order is obviously the Government’s first priority to kick-start the economy and reduce the dole queues.

I believe they could do worse than study the tried and tested plan used by the Swedes in the 1990s. Leave NAMA up and running, but nationalise at least two of the top banks as well. Hedging their resources in this way would offer them the best of both worlds.

If the banks successfully complete the course, they can be privatised again and taxpayers would reap the benefit. Alternatively, if they fail to achieve their targets, NAMA should do well, giving more happy faces. Whatever action they take, the Government is fireproofed thanks to the generous support of the European Central Bank.

My one great fear, however, is that the cronyism among various professional bodies could surface again. Even if this risk means moving away from the Dublin “golden circle” and recruiting some personnel down the country, it might help to promote more confidence in the whole NAMA idea. Equivalent brainpower would be readily available, remuneration would be more realistic and, I dare say, “performance bonuses” would be only accepted on satisfactory results. Finally, to quote Thomas Jefferson, “banking establishments are more dangerous than standing armies”. We shouldn’t forget we are in the process of launching a serious one in NAMA.

James A Gleeson



Co Tipperary


As the clocks go ahead, so does your style. Corina Gaffney picks your new wardrobe heroesFashion forward: Spring fashion as the clocks change

Des O'Sullivan gives an overview of the changed dates for much-anticipated salesAntiques & FIne Art: What events are put on hold for now?

Virtual auctions a welcome distraction, writes Des O’SullivanBuyers adapt with ease to bid online while grounded

I wish I could write us all back in time, when we could pop to the shops without fear, when grandparents did not have to wave through a window at their grandchildren.Michelle Darmody: Recipes with simple ingredients

More From The Irish Examiner