Oireachtas Joint and Select Committees

Tuesday, 26 September 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector in Ireland (Resumed): Allied Irish Banks

4:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

When Mr. O'Keeffe says the bank will be bringing something to market, will there also be a statement that the bank will deal with the residual debt? This is capitalism. This is the banks' game. They do this all the time. They wipe debts, which is why interest is charged and so forth. They are extremely harsh on many customers here, which is causing major concern. Mr. O'Keeffe's bank is not the worst. We will have other banks in before us, some of which make a virtue out of the fact they do not cut deals, even though we know that they cut deals but do not say so publicly. Will the bank be doing what Permanent TSB did, namely, saying that it will wipe out the residual debt?

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