The EU Commission reviews State aids concerns regarding funding of residential units in Ireland (Irish housing crisis)

1.1 Factual background to complaint On 13 October 2015, the board of an Irish state agency, the National Asset Management Agency (‘NAMA’), announced the funding of 20,000 residential units by end of 2020 in response to the Irish housing crisis [1]. NAMA, established in 2009 following the fall-out of the Irish banking crisis, is tasked with the function of acquiring bank assets, dealing expeditiously with such assets and protecting or otherwise enhancing the value of those assets – including having competence for realisation of security [2]. On 4 December 2015, a complaint by five

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