Why is NAMA being funded by the French and Germans through the ECB?

[Jock_the_Waster]

It isn't €90bn, its €55-60bn
We aren't printing money, literally or effectively (we're borrowing it)
We're not borrowing it from the ECB
NAMA has been approved by the ECB

lies much?

[Hal]

It isn't €90bn, its €55-60bn

You don't say!!
Why didn't someone say that before, if we'd have known that we would not be all the time saying it's 90 billion.
It's in no one's interest to pretend that the situation is worse than it is. All we need is the correct information and we'll all stick with the facts.

Once again, thank you for that piece of information, I really don't know why someone didn't point that out before now.

[X-ray]

It isn't €90bn, its €55-60bn
We aren't printing money, literally or effectively (we're borrowing it)
We're not borrowing it from the ECB
NAMA has been approved by the ECB

we are borrowing it from ECB, they will have the bonds in their vault and have exchanged them for cash, if thats not borrowing I dont know what is. Are you saying we dont have to repay the bonds or are you saying the ECB wont have them?

[kerdasi amaq]

I think the ECB might have something to say if we issues 90billion in bonds to our banks without running it by them first, we are effectively printing money for our banks and telling the ECB we are good for it in the long term. We are doing nothing without the nod from frankfurt, nothing.

We'd be better off printing money to pay these debts. Those bonds will have to be paid off+interest out of future tax revenues. Why do you think that they are so keen to intoduce property tax? First insert the thin end of the wedge and then, later, whack it home.