THE IRISH PROPERTY COUNCIL
The I.P.C. wishes to contribute to and perform its part in helping to stabilise the Irish economy and to stop the loss of further businesses and jobs and to help move forward and out of the present crisis.
On the 16th of September 2009, the Minister for Finance introduced the draft Bill for N.A.M.A. On the basis of the draft documentation and the statements made both inside and outside the Dail the I.P.C. is of the opinion that N.A.M.A is the most viable option available to provide the necessary finance and liquidity to the Irish Banking System, with the approval of the European Central Bank, and accordingly is for the overall benefit of the Irish economy. A strong and well financed banking system is essential to develop business and commerce and a healthy economy in the future.
The I.P.C. believes that in conjunction with N.A.M.A that there must also be reform and proper regulation of the banking system and that good banking practise must be established throughout all financial institutions. The appointment of Professor Patrick Honahan as Chairman of the Central Bank and as Financial Regulator is a first step and part of this process.
The I.P.C. wishes to work with the public, the Government and the financial institutions in creating a strong and growing economy with sustainable businesses and employment. This in turn will provide the additional taxes to the State to enable the Government to provide the necessary services to the people of Ireland and to stabilise the public finances.
The property business cannot sustain itself and grow on its own without being part of a strong and developing economy which is employment generating and wealth creating. To achieve this, the I.P.C. will make its contribution as a participating partner.
28th September 2009