Gerry Horkan (Fianna Fail) | Oireachtas source

I accept the moral hazard argument and many people are making huge sacrifices. They are not changing their cars, they are changing their children's schools and they are not going on holidays in order to make repayments. Others are certainly in a position where it is not a case that they will not pay but they cannot pay. The bank is going to take the hit and sell the loan to a vulture fund. It will lose much in that process. If these people sought to get loans in a sustainable way, either from a family member or elsewhere, in order to make a payment, the bank still would not entertain those payments.