Owen O’Callaghan: Dublin developers mainly at fault

ONE of the country’s largest developers blamed a handful of Dublin-based builders “who lost the run of themselves” for some of the current financial crisis.

Owen O’Callaghan, of O’Callaghan Properties, said this core group of about six developers was assisted in some cases by the banks.

He believes NAMA, the agency that will take over banks’ bad debts, will not work and bad press abroad is not helping the economy.