Oireachtas Joint and Select Committees
Wednesday, 4 September 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of Financial Sector: Discussion with Bank of Ireland
12:25 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
Does Mr. Boucher not think it is unfair for the majority of ordinary mortgage holders under these restructuring arrangements and certainly under the forbearance, as Deputy Donnelly just outlined, which is not a long-term restructure and is just digging people further into a hole of debt? Many of the banks seem to be just playing for time in situations that are further digging people into a hole and possibly hoping the economy will bounce back or the property situation will improve. Does Mr. Boucher not think that it is also extremely damaging for the economy? Under what he and all the banks are describing, there might be up to 200,000 families who will be pinned to the wall for 20 or 30 years.
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