NAMA chief vows a ‘hard-nosed’ approach to bailed out developers

NAMA chief Brendan McDonagh last night insisted it would not be a soft touch for developers bailed out to the tune of €54 billion borrowed by taxpayers.

The National Asset Management Agency’s chief executive warned the “bad bank” would take a hard-nosed approach to firms seeking help.

Business plans will be demanded from the 10 biggest borrowers and those deemed unrealistic or unhelpful will be refused aid, Mr McDonagh said.