This post examines the transition from NAMA 1.0, the saviour of Ireland’s financial system, to NAMA 2.0, an entity hell-bent on not making a loss under any circumstances. While ostensibly a safer deal for taxpayers, the true cost to the real economy of such a NAMA is only beginning to be understood. Read more
This joint post with Brian Lucey examines one hundred different ways of spending the €25bn that the European Commission approved last week for the Irish government to spend on recapitalising Anglo-Irish Bank. They range from the very practical (fight malaria) to the very amibitious (space elevators) to the very ridiculous (detach Cork). All of them give a good idea of just what a huge number €25,000,000,000 is! Read more