Oireachtas Joint and Select Committees

Wednesday, 25 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Matters Relating to the Economy: Discussion with Governor of Central Bank

3:50 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

What is the Central Bank going to do about this banking lottery that is going on, where if one happens to be with Bank of Ireland, one is in trouble? However, if one happens to be with AIB, one is in less trouble. We have this banking lottery. What is the Central Bank going to do about the fact that now, a few months into the process, some banks are beginning to offer more sustainable solutions? What about the huge number of people who have been offered the bad sustainable solutions? How is the Central Bank going to use its powers to ensure consistency?

The second part of my question is very important for these borrowers. If I am a Bank of Ireland customer and I have been offered a terrible solution and have been sort of bullied into accepting it, and if the Central Bank then says it is going to insist on consistency, will I be able to come back to my bank and say that Governor Patrick Honohan has declared that what the bank has offered and pushed me into is not sustainable and that I want a better deal?

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