Ireland’s bad bank worse than expected


The size and scale of Ireland's National Asset Management Agency (Nama), which will see the country buy €81 billion ($109 billion) worth of bad loans by next February, on Wednesday unnerved investors.

The entity, which officially opened on Tuesday, has been designed to transfer toxic loans off the balance sheets of Ireland's five biggest banks- Allied Irish Banks, Bank of Ireland, Irish Nationwide Building Society, EBS Building Society, and the already-nationalised Anglo Irish Bank.

Markets were

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