Oireachtas Joint and Select Committees

Wednesday, 19 December 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Contribution of Public Interest Directors in Financial Institutions: Discussion with Permanent TSB

3:50 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

The option that people are looking for, given that the bank has been recapitalised to deal with the fact that these mortgages will not be paid in full, is for the banks to write off their debts, because they are in financial or mortgage distress and personal turmoil. They want the banks to write off the debts of people who simply will not at this point in time or at any time in the future be able to repay their mortgages in full. Has the bank done so thus far and does it have plans in place to write off parts of mortgages for mortgage holders?

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