Greens Challenge Gov Over NAMA

The Green Party have warned the Government their support cannot be taken for granted on the plan to establish a National Asset Management Agency (NAMA).

Green Party Chairman Senator Dan Boyle said in an interview today that his party's support for the NAMA legislation, which would establish an agency to buy up toxic debts in banks, was dependant on "an internal process" and party members would ultimately make a decision.

Meanwhile, the Green Party leader Eamon Gilmore said public opposition to Nama was "growing by the day", and urged the Government to adopt his party's alternative proposal to temporarily nationalise the banks.

The main opposition party, Fine Gael, have also criticised the Government's stance on the NAMA project.

Fine Gael spokesperson on Enterprise, Leo Varadkar, said that Fianna Fáil did not want a serious debate on the solution to the banking crisis.

"It is clear to me that neither the Taoiseach nor Minister for Finance are prepared to tolerate an open and honest debate on the solution to the banking crisis.

"While they are prepared to engage with opposition on amendments or improvements to the NAMA proposal they are not prepared to discuss alternative options. To them, it’s NAMA or nothing," Mr Varadkar said.

In recent days, both Taoiseach Brian Cowen and Minister for Finance Brian Lenihan have expressed confidence that the Greens will back the legislation, possibly after some amendments.

(DW/GK)