The Irish, Debts and the Bad Bank | Made in Germany


In the wake of the financial crisis, Irish financial institutions were able to unload the worst of their property loans on NAMA, the National Asset Management Agency, which acted as a state-run bad bank. Nonetheless, countless loans from home builders secured only by undervalued properties still lurk on the banks’ books.
Now many home owners are threatened with dispossession because the banks want to take advantage of rising real estate prices. Report by Gerhard Elfers.

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