When NAMA was unveiled the then-government claimed it would actually make more than one billion Euros in profit. Already a loss of over €700 million has been revealed for 2010 and it is set to lose much more. So why does this agency exist asks Conor McCabe.
The elites that have dominated the republic’s economy since independence have brought it to ruin. Conor McCabe, the author a major new analysis of the Irish economic crisis, identifies these classes and outlines their malign influence.
The EU’s policies to overcome the Europe wide banking crisis seem beyond the understanding of all but the self-appointed economic elite. That is because, as Conor McCabe explains, they actually do not make sense.