Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

In conclusion, could Mr. Boucher put a value on the total amount of negative equity in the bank's owner-occupied mortgage book? Lastly, I have a question which I put to the representatives of all the banks. Does Mr. Boucher not see the common sense that ordinary people see, that rather than putting tens of thousands of people through the torture and distress there should be a global write-down to today's home values, with a clawback built in should the prices go very high again?

A calibration downwards of monthly repayments is the way to achieve a global solution to what is a nightmare for many people, thereby releasing millions of euro for the real economy.