# Should we have a referendum on NAMA?



## csirl (31 Mar 2010)

Should Article 27 of the Constitution be invoked?

The opposition can force a Referendum on any legislation relating to bailouts if only 1/3 of sitting TDs sign a petition to the President that is supported by the Seanad. 

Government has been defeated in the Seanad, so its quite possible that a vote to support a petition would succeed - majority is slimmer than the Dail. Would also put each and every Senator on the spot - who would like to be the Senator who refused a Referendum?


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## VOR (31 Mar 2010)

*Re: Should Article 27 of the Constitution be invoked?*

Very interesting. Are we still at a stage where this can be invoked? I thought NAMA passed in to law in Autumn? Stand to be corrected though.


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## jhegarty (31 Mar 2010)

*Re: Should Article 27 of the Constitution be invoked?*

Which bill do you have in mind ?


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## ajapale (31 Mar 2010)

*Re: Should Article 27 of the Constitution be invoked?*

I believe that referendums are the "tools of dictators". What would such a referendum be about and what would it achieve?


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## mlouisa (1 Apr 2010)

no there should not be a referendum - cos everyone would vote no and then we will never be out of this mess !!


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## Bronte (2 Apr 2010)

mlouisa said:


> no there should not be a referendum - cos everyone would vote no and then we will never be out of this mess !!


 
Not sure about this as I think NAMA could be getting us into a mess not out of one.  But at least it would do one thing, we might get real figures on which to make a decision if there was a referendum.


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## ronanlyons (21 Apr 2010)

Bronte said:


> Not sure about this as I think NAMA could be getting us into a mess not out of one.  But at least it would do one thing, we might get real figures on which to make a decision if there was a referendum.


I'm not sure that's the case:
(a) Our financial system needs solving one way or the other. The way we've settled for - whether we agree with it or not - is to pay €43bn for assets that will be worth by 2020 somewhere between €30bn (absolute worst case) and €60bn (relatively chirpy case). So with NAMA (as distinct from bank recapitalisation) we are at most paying €13bn plus interest for fixing our banking system. Sounds like an unnecessary gamble, certainly, but in the scale of things, a small mess to get out of a big one. The budget deficit/public sector expenditure is by far the bigger worry over the coming 10 years.
(b) Why would the real figures come out if we'd a referendum?


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## Mixednuts (27 Apr 2010)

The people will get their referendum on NAMA by default ....It will come under the name GENERAL ELECTION .


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## Brendan Burgess (27 Apr 2010)

NAMA is now in force, so the referendum is irrelevant. Feel free to continue to discuss NAMA, but under new threads.


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