Irish PM warns of "powerful interests" blocking economic pla

[EireWarrior]

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Irish PM warns of "powerful interests" blocking economic plan
Fri, 05/22/2009 - 10:02

The Irish prime minister has suggested there are a number of "powerful interests" currently holding back the economic growth of the country.

Brian Cowen told an election rally in support of the Fianna Fail party that a number of property developers and banks were making it difficult for the government to move ahead with plans to help Ireland's ailing financial system.

He explained the National Asset Management Agency (Nama) initiative, which involves the purchase of €90 billion of property loans from a number of financial institutions, was being blocked by outside sources.

The leader went on to stand behind the package, adding: "We have introduced Nama to position us to get credit moving now and clean up the financial mess for good."

Earlier this week, the Irish Independent reported that Mr Cowen had pledged to get behind new proposals designed to protect employees working for insolvent companies that have pension deficits.

[Ognir]

Indeed, external groups involved :lol: