No agreement on toxic assets agency
The Cabinet has failed to agree controversial draft laws setting up the State's new toxic assets agency Nama.
Government ministers are to meet again in the hope of signing off on the complex legislation before their summer break.
It was expected the bill would be rubber-stamped at talks lasting several hours which would pave the way for a final bill being unveiled later this week.
But the meeting broke up this evening without the green light for all 200 sections covered in the weighty legal document.
When eventually sanctioned, the bill will be published on the Department of Finance website.
The move will allow Opposition politicians and the public to study the proposals before a final version is debated in the Oireachtas after it is recalled in mid-September.
The National Assets Management Agency was unveiled in the April mini-budget.
It is designed to recoup losses in banks covered by the State guarantee scheme through the selling-off of developments that collapsed during the property crash.
Finance Minister Brian Lenihan has already signalled he wants to give time for public consultation to avoid any legal challenges to the new agency.
- Post:
- del.icio.us
- Digg
- Netscape
- Newsvine
- Now Public
- Q&A
{ JOIN the CONVERSATION }
WRITE A COMMENT
Guidelines At A Glance
Below are some quick guidelines to note when posting comments on AOL.