The state should introduce a compulsary Bond(15 years) in lieu of further tax hikes and cuts in social welfare and possibly backed by the newly aquired “assets” of NAMA.

I believe people would be far more inclined to suffer pain now for tanigble future gain (their Bonds maturing) rather than the current intangable reward on offer of “better times ahead”. Bond purchases should be deducted as the levies are and could be issued as Payslips to paye earners and as vouchers to reduced Social welfare reciepients with each bond with a face value of €1 for every euro deducted. People should be offered the opportunity of purchasing additional bonds.

The bonds could be backed by the New assets of Nama. With some of the bond finance going to servicing Nama’s ongoing obligations Nama could afford to wait out the market and not make firesales now. In say 5 years when Nama has got to grips with its business the bonds could be allowed to trade by way of a bond market (with the continued and guaranteed investment from the taxpayers Nama could possibly even run a parrallel market for its bonds which would allow the taxpayer (bondholders) see possible reward coming down the line) or conversion to ordinary shares in Nama PLC so those in need could in whilst others could see out the bond or hold shares going forward. The NTMA has been a huge success possibly one of the country’s wises decissions, in 19 years politicians have not stuck their noses its it business and rightly so. If NAMA is even half as successful I would gladly buy into it. A euro investment in the NTMA in 1990 would have paid rich rewards as an investment,and has to the state. In a bond contract with its own citizens the state would not be forced to pay international market rates. We would all welcome any return on such an investment verses the situation now where we paying levies and have to place trust in politicians.

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