Fine Gael Say Green's NAMA Talk 'Garbage'

The 'toxic debt' agency debate has heightened once more, as opposition party Fine Gael claims the government-allied Green party are talking "self-serving garbage" over the establishment of the new asset agency.

Speaking in response to yesterday's comments from Green Party leader Eamon Ryan, who claimed there would be no over payments by the soon to be established National Assets Management Agency (NAMA), Fine Geal's Alan Shatter said the public shouldn’t "swallow any more self-serving garbage from Green Party members".

Mr Shatter said: “Having thrown media shapes during the month of August in which they sought to identify with the growing public concern over NAMA, the credibility of Green Ministers and Oireachtas Members such as Minister Eamon Ryan is now in tatters."

Yesterday, Eamon Ryan said the NAMA body, which will purchase un-repayable debts held by Ireland's troubled banks estimated to cost tax payers €90 billion, would not over pay for the bad loans once it is established.

Mr Ryan said the NAMA legislation would ensure greater protection for the tax payer and that the loans would be bought at ""massively discounted" rates.

However, Mr Shatter has today responded angrily to these claims, saying the Greens deserved "no further credibility or airtime when they next emerge".

"Nor do they deserve any credibility when they inevitably try to claim responsibility for the Minister for Finance's expected amendments to the draft NAMA Bill"

The bill to establish the NAMA body will be debated in the Dáil debate on 16th September when the house resumes after its summer break.

(DW/BMcC)