Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I might throw in my tuppence as well. All Members of the Oireachtas over the years have had to deal with cases of overlending or overborrowing. If a person falls into difficulty with repayments, regardless of the borrowing source, the resolution should not entail recapitalisation of the loan. That always leads to increased repayments. If a person gets into difficulty in the first place with a certain level of repayments, he or she will not be in a much better position with an increased level of repayment. They will be in a worse position. When interest rates were higher, it was not possible to get out of that level of debt and there was no solution.

It is important to have structures, repayments and levels of interest determined by an outside body rather than lenders. The lenders still have too much influence in putting up a proposal for resolution that would not be a resolution at all. It would be a resolution to their advantage and the disadvantage of the borrower. If nobody wishes to comment on that, we will proceed to hear Deputy Doherty.