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

4:40 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

The point is that all and sundry are saying that the State would like to write down its debts to sustainable levels in order that the economy can recover when it comes to debts. We apply the same principle to residential mortgages. That would be the easiest way to sort this out. The bank has been provisioned to do that. This gets to the heart of the question of whose interests the public interest directors are serving. That is what the public want for national debt and mortgage debt.

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