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

A question was raised by Senator Paddy Burke on the earlier meeting with the Vice-President of the European Commission. The note Senator Burke referred to was on encouraging and continuing a more durable reduction in non-performing loans through resolution strategies that involve write-offs for viable businesses and households, with a special emphasis on resolving long-term arrears.

That is what Senator Paddy Burke was referring to. Again, in the context of that meeting, we spoke to the Vice-President about the number of loans that have been sold already to vulture funds, and banks using vulture funds to reduce their non-performing loans. I again express our concerns to the witnesses that these vulture funds, as in the case I mentioned to Ms Arnett, behave in a way that would lead one to believe there was no law and order in this country. It is disgraceful what they have got away with, particularly on our side of it in terms of their transparency and accountability to the Houses of the Oireachtas.

In terms of their business dealings and treatment of customers, the vulture funds have completely ignored the fact that they have an obligation to honour-----