Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

I could be wrong, but my strong impression, having listened to the Governor's previous contributions at this committee as well as today's, is that the Central Bank and he as its leader have not just taken a hands-off approach to the banks, but have also adopted a hands-off mentality. The Governor has brushed off the issue of the tens of thousands of legal letters that are dressed up as sustainable solutions. The Minister for Finance, Deputy Noonan, places responsibility for the definition of sustainability at the Governor's door. He has told us that he is not happy with the situation, but that it is a matter for the Central Bank. Today, the Governor went nearly so far as to say that the banks were doing the families and householders a favour by sending them the letters, in that, while the letters might be unpleasant, at least they had been sent. He went a step further and suggested that many of the people in question were perhaps the authors of their own misfortune because they had not been in contact with their banks. That is what I heard the Governor say.