Strong list of economists arguing in Friday’s Irish Times for nationalising the Irish banks.
I’ve argued this postion previously in this blog. Recent developments would not change my opinion. Seems to me that the NAMA process is simply going to drag out the inevitable. If the assets are written down properyly in the banks before transfer to NAMA then the banks will need a major cash injection from the government. If the government injects this cash for ordinary equity then it will acquire major stakes in those banks.
Why not just get on with it?