John McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

The reality is that retailers, for example, have exhausted all of their money. Their savings are gone. Some of them are staying open out of pride. They would have a good business if only the overall debt was dealt with. It might have been debt created by the purchase of property, as Mr. Moran said. The banks are not responding to them in any real or meaningful terms. I am shocked by the numbers in my constituency and I imagine it is reflected throughout the country. These people are being left to hang out to dry. They are now being pushed to the point where they will not recover. The banks will break them. We did not allow the banks to go; we saved them. I consider the retail sector and the high streets of this country to be an important part of our economy, but we are allowing them to go broke. Let us consider the number of properties that are boarded up in every village, town and city throughout the country. One cannot but be shocked. The names over the doors indicate that families have been in business for generations but they simply cannot continue. It will take a vast amount of money to rebuild that part of Ireland but the banks are not playing a role. I think they are disgraceful in the way they are behaving.

Deputy O'Donnell pointed out that on the mortgage side they have said that they have taken action but 50% of the action they have taken has involved sending letters. I have seen letters to individuals in which they have been declared unco-operative. One individual came to me and explained that he was setting aside a €50 repayment each week into an account but his lender was not taking the money. Then he got a letter suggesting that he was not co-operating.

A considerable number of people will find themselves without a home and on the streets after this because they simply cannot get the bank to understand that they do not have the money to pay. The local authorities do not have the houses to give them. The rent allowance system and the rental accommodation scheme are at breaking point in terms of the money the Government is putting in but that is their only escape. I am afraid the banks have failed to respond at that level. I agree with Mr. Moran that there is change at the higher level. I suppose I am referring to the smaller end of the SME sector, including the retail sector. All these businesses represent indigenous jobs created in towns and villages but the banks are letting them die. I appreciate the job Mr. Moran did and I understand that he is finishing up, but I believe his team should be focused on those community businesses that would be feasible if they got half a chance.