Greens hold meeting on Nama

Green Party members aired their views on the proposed legislation to establish the National Asset Management Agency (Nama) to…

Green Party members aired their views on the proposed legislation to establish the National Asset Management Agency (Nama) to the party’s leadership at a special meeting in Athlone today.

A preferendum of various Nama choices is to be voted on by delegates later but the result is unlikely to be available today, according to party sources.

Earlier Cabinet ministers John Gormley and Eamon Ryan fielded questions from around 150 delegates on how the bad loan agency would work.

Both ministers are strong proponents of the modified Nama legislation published earlier in the week.

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Mr Gormley and Mr Ryan argued that a repeat of the excesses of the Celtic Tiger era would not be possible under new legal constraints, including an 80 per cent windfall tax on rezoning profits.

Mr Gormley also stressed that changes included in the Planning and Development (Amendment) Bill 2009 will mean that undue zoning of land for development can be revised and altered.

Around 500 people today took part in a rally against Nama in Dublin City centre. The march began at the Garden of Remembrance and ended at Leinster House.

It was organised by the Irish People's Union and Richard Boyd Barrett addressed protesters.

They want to stop the nama legislation from being passed because of the potential cost to the taxpayer.