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Irish builders fear Nama impact

Ireland's “bad bank” scheme, Nama,  risks stifling the already struggling construction industry if implemented according to the government's current plans, the Construction Industry Federation (CIF) said yesterday. The government plans to cleanse banks of risky commercial property loans with a total book value of €77bn (£72bn) to kickstart lending and boost the recession-hit economy. “Existing experienced borrowers will be excluded from trading in the property and development marketplace,” CIF director-general Tom Parlon said.