Oireachtas Joint and Select Committees
Tuesday, 7 July 2020
Special Committee on Covid-19 Response
Impact of Covid-19: Overall Fiscal and Monetary Position
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
Is the Governor familiar with the position taken by a number of other European jurisdictions? I think the Commission's report referred to about 12 European jurisdictions where the cost is borne by the banks as opposed to the consumers, including in Germany, Italy, Spain and Belgium. Very interestingly in Belgium KBC Bank voluntarily has not charged interest to low-income borrowers during the break, whereas KBC Bank has charged interest to customers in Ireland. Is Mr. Makhlouf familiar with the fact that across Europe banks in many jurisdictions have taken a decision either through legislation or voluntarily not to accrue interest?
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