'Nama plan is EUR7bn gift to bankers' FINANCE.Byline: MICHELLE MICHELLE Mid-Infrared Echelle Spectrograph O'KEEFFE HUMAN rights crusaders yesterday slammed the Government's Nama plan, branding it a EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 7billion gift to Irish banks. Taxpayers will cough up EUR54billion to the banks for property-related loans, which have an estimated value of EUR47billion. Campaigners Social Justice Ireland said the plan for fixing the financial crisis is flawed because fat-cat banks will be overpaid for bad loans. A spokesman added: "We believe the Government is putting the taxpayer at unnecessary risk with its current proposals. "The cost of the present proposals would damage Government finances for years to come." |
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