Stephen Donnelly (Wicklow, Independent)

Okay. I look forward to the debate. I do not present this as something that should be passed into law tomorrow but I am keen to find a way for the essence of what I am trying to do and what this Bill is trying to do to be realised. It is important. The Bill was drafted in close collaboration with New Beginning. Ross Maguire, a senior counsel, is in the courts dealing with these matters and he is at the negotiating table all the time. He welcomes the Minister, Deputy Shatter's Bill as well and he believes this extra legislation would help. He said that, ultimately, the banks can take the view that they need not co-operate with or take any offer from borrowers and that, ultimately, they can take the family home and make borrowers homeless and that the borrowers must do whatever they want.

There is now a credible threat of bankruptcy for three years. The people who deal with these matters in the courts every day believe that the essence of what we are trying to do would help and complement the other Bill. There is an open letter in The Irish Times today signed by Professor Gerry Whyte, one of the foremost experts on the Constitution, Dr. Pádraic Kenna, a housing law expert, Constantin Gurdgiev, who examined the economic implications, Noeline Blackwell, director of Free Legal Advice Centres, FLAC, and by several senior counsel, including Bill Shipsey and Ercus Stewart. I accept there are technical problems with the Bill but serious economic and legal people have examined the matter and, in essence, they take the view that they support it and they are keen for something like this to come through.

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