NAMA not a panacea, warns Sheehy – Irish Independent

Nama will not leave country awash with cash, says AIB – Irish Times

“If people think the day after Nama that the country is going to be awash with money – that is not going to happen,” he said. “The banks’ balance sheets will be stronger. That will help the banks access long-term funding cheaper and there will be a trickle down effect.” (Eugene Sheedy, AIB)

So NAMA will help the banks of a hole then and the rest us might – despite it being taxpayers who have bailed the banks out – get a small trickle down effect.  For an initiative that is meant to get liquidity back into the market as quickly as possible to help out small and medium sized businesses this statement from AIB’s head honcho doesn’t inspire a lot of confidence.

Rob Kitchin