25/07/2019 (Agence Europe) – The European Commission approved on Thursday 25 July, the extension of the duration of the Irish National Asset Management Agency (NAMA) until 31 December 2025. Established in 2009 by Dublin in the context of the financial crisis to acquire portfolios of non-performing loans, the creation of this entity was given the green light by the Commission in February 2010. It was originally intended to exist until 2021. However, last June, the Irish authorities notified the institution of their intention to extend the duration of NAMA's existence until 2025 in order to wind-down certain assets and obtain the best return for the Irish State and taxpayers. Dublin has also submitted commitments to limit the impact of this extension on competition. Considering this satisfactory, the Commission gave the measure the green light. (LT)