Daft Property - Irish Property News

Nama might prove 'laboratory' for EU, leaked cable said... THE FIANNA Fáil-Green government considered the National Asset Management Agency (Nama) “might prove to be a laboratory” for other European Union states faced with banks on the brink of collapse, according to the latest batch of diplomatic communications published by Wikileaks. Ireland’s permanent Ambassador to the EU, Rory Montgomery, made the comment to the US ambassador to Ireland, Dan Rooney, at a meeting in Brussels in September 2009. Mr Montgomery revealed the EU “was watching closely” the establishment of Nama. At the same meeting he said that year’s budget would focus on cuts in public sector pay. The cable reports Mr Montgomery’s view was that “Ireland [was] paying too many civil servants too much to provide public services that could be provided for much less.” Mr Rooney met EU commissioner Charlie McCreevy on the same trip. Mr McCreevy had advised the Fianna Fáil-Green coalition to act quickly in es...