# NAMA over 10 years a good thing?



## Firefly (6 Sep 2010)

OK, we all know NAMA is a disaster and my initial reaction to the gov wishing to spread the cost of NAMA over 10 years is the same "Put it on the never-never" mentality that got this country into the mess we're in. But, surely 3-4bn a year is managable - the cutbacks in last year's & this year's budget will cover that. Thoughts?


----------



## Shawady (6 Sep 2010)

What happened to turning it into a business bank? That was the proposal only a few months ago.
I think they are making it up as they go along.


----------



## fraggle (6 Sep 2010)

We need to cut approx 20bn a year just to cover our running costs. The 25bn for Anglo is on top of that. 

So 3-4bn a year x 6 budgets will cover our running costs.
Meanwhile the interest on the 25bn is what? Most likely about the same as the cuts we have made so far. Plus the social welfare bill is rising.

Approx figures but you get the idea.

Anyway, that is my understanding of the state of affairs!


----------



## Firefly (6 Sep 2010)

fraggle said:


> We need to cut approx 20bn a year just to cover our running costs. The 25bn for Anglo is on top of that.
> 
> So 3-4bn a year x 6 budgets will cover our running costs.
> Meanwhile the interest on the 25bn is what? Most likely about the same as the cuts we have made so far. Plus the social welfare bill is rising.
> ...


 
I'm not talking about the running costs of the country (public sector wages & pensions, social welfare and capital expenditure)  (these need to be reduced too) but am specifically referring the annual 3-4bn relating to Anglo. If the running costs were brought into check then I feel the Anglo costs (as bad as they are) would be manageble.


----------



## Shawady (6 Sep 2010)

It is interesting to see how Brian Lenihan has changed his position. Anyone else think the EU have dismissed the idea of good bank and all this is just spin?

http://www.independent.ie/business/irish/brian-lenihan-in-quotes-how-he-changed-tune-2326061.html


----------

