Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I will move on to the issue of mortgages. Mr. Moran made some comments at the recent Irish Banking Federation conference at which Fiona Muldoon from the Central Bank also spoke. There was a common theme of some frustration at the speed with which the banks are dealing with the mortgage crisis. Mr. Moran made the point that there will be a need for some level of debt write-down or debt forgiveness in cases where there is unsustainable debt. Will he summarise his criticisms in this respect? What would he like to see happen that is not already happening? Is it the pace of change or that the advance forbearance options are not been rolled out quickly enough? What would he like to see happen that is not happening to deal with mortgage debt and personal debt?