On Thursday 25 January, the European Commission found that the Irish National Asset Management Agency (NAMA) had not breached EU state aid rules in its financing or actions.
NAMA, which was created in Ireland in 2009 as a result of the financial crisis in order to stabilise the national banking system, acquired portfolios of non-performing commercial loans backed by land and real estate to be developed from five Irish banks. The creation of the body and its support to the five banks received...