Wilson Meets Lenihan to discuss NAMA and Banking Issues

Finance Minister, Sammy Wilson, today met with his Irish Counterpart, Brian Lenihan, to discuss issues of mutual interest.

The meeting focussed on the latest position on the implementation of the National Asset Management Agency (NAMA) and related banking sector issues affecting both jurisdictions.

Speaking after the meeting, Minister Wilson said: “The banking sectors in both Northern Ireland and the Republic of Ireland remain vitally important and will play a crucial part in economic recovery – businesses and consumers need to have access to finance at reasonable terms to stimulate economic growth.

“I had a very constructive meeting with Minister Lenihan. We discussed the implementation of NAMA and I sought clarification on a number of issues relating to the impact on participating banks with a Northern Irish presence as well as local businesses that may be drawn into the process.

“Minister Lenihan assured me that a full register of Northern Irish loans being transferred to NAMA will be available shortly and that there will not be a ‘firesale’ of Northern Ireland based assets.”

This is the third time since September 2009 that Minister Wilson has met with the Irish Finance Minister to discuss NAMA.

The Minister concluded: “It is absolutely crucial that our banks and businesses have clarity on what the NAMA process means for them. I, and my officials, will continue to liaise with the Department of Finance in the Republic of Ireland to ensure that Northern Ireland is in no way unfairly disadvantaged.”

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