Abstract
The Irish property boom of 2003–2008 ended with a spectacular bust leaving the main Irish banks on the point of insolvency. The Irish Government’s response was to establish a State-owned bad bank, the National Assets Management Agency (NAMA). The Commission approved the system as compatible with the internal market pursuant to Article 107(3)(b) TFEU and the Communication on Impaired Assets but has required on-going notification of individual asset transfers to assess market value.
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This article is the development of the presentation given by the author at the Annual Forum on European State Aid Law 2009, organised by the Academy of European Law, held in Trier on 12–13 November 2009.
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Quigley, C. NAMA, the National Assets Management Agency: an Irish solution to an Irish problem. ERA Forum 11, 351–360 (2010). https://doi.org/10.1007/s12027-010-0168-6
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DOI: https://doi.org/10.1007/s12027-010-0168-6