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
Stephen 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.
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