Connect with NAMA
Posted in News, people, politics, social media, tribes by Diarmuid ORiordan on March 11th, 2010
This is a bit Irish. The Facebook group “No to NAMA” has 11,369 members. I want John Joe from the late late toy show to fix my clock group has 47,415! In my opinion, Ireland needs to connect online to have a discussion about the most important piece of legislation in the history of the state.
Lets use social media to voice our opinions and lets get interested in what could potentially make or break our state. Why?
NAMA is purchasing loans at only a 30% discount from the banks. The lands these loans are based on are now priced back at agricultural value. Unless the farmers strike oil on this land, the actual underlying value will remain as low as 10% of the loan value. We’re screwed!
David McWilliams sums up the figures as “we see that there will be €51.5bn of land and development assets and associated loans transferred, based on what he has seen so far, we are looking at a hole of possibly €40bn, where we will borrow €51.5bn from the ECB, for assets worth a little over €10bn”.
A loss of €40 billion ladies and gentleman, puts Ireland in the red for generations to come.
Ireland should prepare for even higher increases in taxes to pay for the debt, unemployment and emigration should this happen.
Social Media was used as a primary method of communication among opposition supporters in the Iran 2009 elections. Tight state control of traditional media drove the opposition online to spread their message. In the USA, Barack Obama’s presidential campaign generated $60m dollars from social media channels.
Users of social media in Iran and the USA were able to establish a voice in important moments in their history.
Whether NAMA is a success or failure will decide the fate of the Irish economy for a generation.
This is an important moment in our history, and we can use social media to establish our voice and contribute.