Oireachtas Joint and Select Committees

Wednesday, 29 January 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Report on Licensed Moneylending Industry: Central Bank of Ireland

5:15 pm

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

Let us suppose I borrowed €500 and I must pay back €500 in interest and capital on that amount in one year. In other words, there is 100% interest and a one-year loan. If, at the end of year 1, all I have paid back is €500, is Mr. Murphy suggesting I need not pay any more interest on that loan? There is no chance of that.

Comments

No comments

Log in or join to post a public comment.