Market ready for quick nama selloff - Michael Noonan

independent.ie/business/iris … 21734.html

"FINANCE Minister Michael Noonan has asked the National Asset Management Agency (NAMA) to weigh up the pros and cons of selling off its property quickly.
Mr Noonan said yesterday the increase in demand for property meant that the market “would be able to carry a big sale at this point”. One reason why NAMA has been slow to sell property is the fear that the market could be destabilised if large amounts of property were sold in one go. Recent price rises and a surge in demand for office space in Dublin means these fears have receded.

In Brussels yesterday, Mr Noonan told reporters that he had instructed senior NAMA officials to look at the various options, but he said no decisions had yet been taken…"

Surprised this wasn’t posted. Could be significant, or could be hot air. Maybe Noonan is realising how much Nama is costing, directly in cash, and also the consequences of market manipulation & cronyism.

The Gov are also thinking of flogging thei AIB shareholding apparently

irishtimes.com/news/politics … -1.1698626

It strikes me that they see this as a good time to sell, which would imply that some point in the future is not a better time to sell. Read into that what you will.

Another perspective is that all this is window dressing in advance of council and MEP elections.

The Govt, like everyone else, can’t tell the future. However, if there is an opportunity to sell off Nama’s remaining loans without any further write downs, this could be considered a good deal. I can see why getting shut of Nama would look attractive.

very possibly

Very possibly

Zero chance

Just saw this gem…

Thats a lot of burritos…

Yes, a key point in Irish tax law is that when a company makes a trading loss in one year, it can offset that loss against profits in the same trade in subsequent years.

The Irish banks have billions of losses, so until they exceed the same billions of profits, no tax will come to the State. This will take 15-20 years I reckon.

Then again, how much of this 100bn was ‘owed’ to future Anglo profits? A third? Can’t see the 100bn figure running true for the banks still trading in Ireland.

whatever about Bank of Ireland, surely AIB’s tax losses could be wiped by legislation?

Lloyds/BoSI’s quick exit was partly driven by tax planning - pulling out and handing back the license when they did had some implication for the losses’ treatment