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

What type of provision have they made for bad debts relating to mortgages that will not be repaid by people who are now out of work and are in houses that were purchased for €250,000 but are now valued at, for example, €80,000? There must be a figure for such cases. What provision has been made in respect of the SME sector? How much money will the banks need to deal with all of that? This is the type of information that is required.

The Secretary General can respond shortly as I wish to ask a further question on a matter that has been mentioned. This crisis has lasted since late 2007, yet we are still dealing with SME and mortgage issues. In 2012, there was a discussion on banking versus sovereign debt and so on. The EU took a particular stance on what we should and should not do with bondholders in banks. In the past two days, a senior adviser or official stated that it should be recognised that we were badly treated at the time. The country and the individuals who comprise the debt, be they SMEs, mortgage holders, household debtors or so on, will not be able to repay it in their lifetimes. Is there any indication that Europe will change its stance on our role in saving the euro system? It has been recognised, although I cannot cite the name of the European official who made the comment.