Word: mccloughan
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...Those who support NAMA say Ireland has little option but to take the plunge. The International Monetary Fund has predicted that Irish banks could lose up to $53 billion next year if they fail to get rid of their toxic assets. For Pat McCloughan, a Dublin-based economist, the looming bankruptcy threat outweighs all other concerns. "Unfortunately, developers going out of business and home repossessions are an inevitable part of [the downturn]. But a much bigger problem would be if one of the big banks was to fail. That would have massive repercussions for a small country like Ireland...
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