Ireland confident EU will approve "bad bank" scheme soon

01/7/2010 | Reuters

Although the launch of Ireland's National Asset Management Agency has faced delays, the government is confident that EU authorities will approve the scheme by February. NAMA CEO Brendan McDonagh said the European Commission has requested that Ireland's financial regulator supervise the process. "That would seem to be a very positive step of their moving closer to giving us state-aid approval," McDonagh said.

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