NAMA ‘needs help of developers’

NAMA cannot work without the co-operation of the country’s developers, according to the Construction Industry Federation (CIF), which has also warned that thousands of jobs will be shed as major projects finish.

CIF president Andy O’Gorman said it would be “eminently suitable” for those involved with the proposed National Asset Management Agency (NAMA) to sit down and talk to developers. He said NAMA was “no way a bail out for developers”, adding that developers are not the only ones to blame for the economic mess.

He said banks had obligations too.