Stephen Donnelly (Wicklow, Independent) | Oireachtas source

I thank Mr. Masding and while we are on a roll, will he consider the debt-for-equity product generally? It makes a lot of sense at retirement but, as I have advocated publicly, it is part of the answer. It works in ways that debt write-downs do not. There was a lot of push-back from people following the much publicised AIB debt write-down, who asked “What about me?” The main issue is not people asking “What about me?” but that nobody profits from a debt write-down, which is a legitimate concern. A debt-for-equity product, rather than a debt write-down, sorts that out.

Maybe Mr. Masding would add into the hopper a more general debt-for-equity product which I believe would help maintain the health of the permanent tsb balance sheet and that of other banks. Critically, it would return the individual or family to a normal life whilst not living in fear of the bank’s knocking on the door every three years and asking for a portion of a pay rise or bonus. It provides more clarity and incentivises good economic behaviour for many people.