Wednesday, 16 September 2009

Ireland releases details of €54bn 'bad bank'

The Times
"The Irish government's 'bad bank' will pay out €54 billion (£48 billion) to remove toxic loans from the country's main high street banks, the finance minister Brian Lenihan told the Dail today.In the biggest financial rescue package in the State's history, Mr Lenihan said the National Assets Management Agency - Nama - will issue Government bonds for €77 billion (£68.5billion) in borrowings."

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