Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Why are the variable rates in Ireland so out of line with the euro area average? Professor Honohan indicated that he would correct the way in which the data on the official retail statistics were presented so as to reflect more accurately the advertised rates that banks were charging customers. Why is it that the euro area average for a mortgage is approximately 2.5% while we are much higher?