Michael D'Arcy (Fine Gael) | Oireachtas source

Yes, I want to raise the issue of personal indebtedness within banking. In 1995, the percentage of personal indebtedness to the GDP of the nation was 71%; in 2006, it was 192%, according to the FSR reports; in 2007, the predicted figure, according to the FSR report, was 248% of GNP. The original figures I quoted were GDP.

What was going to be the outcome, Mr. Neary, when a downturn came, for people when they were indebted to that extent? When a downturn was going to occur, how were people going to be able to pay their bills?